Check Point Software Technologies Ltd. (NASDAQ:CHKP) Short Interest Up 6.9% in January

Check Point Software Technologies Ltd. (NASDAQ:CHKP) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 3,430,000 shares, an increase of 6.9% from the January 15th total of 3,210,000 shares. Approximately 4.0% of the shares of the company are sold short. Based on an average daily trading volume, of 740,200 shares, the days-to-cover ratio is presently 4.6 days.

Check Point Software Technologies Stock Down 0.7 %

Check Point Software Technologies stock traded down $1.63 during mid-day trading on Tuesday, reaching $220.46. 976,741 shares of the company’s stock traded hands, compared to its average volume of 900,808. The company has a market cap of $24.25 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 3.31 and a beta of 0.65. The stock has a 50 day moving average of $195.70 and a two-hundred day moving average of $190.96. Check Point Software Technologies has a 12-month low of $145.75 and a 12-month high of $226.02.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CHKP shares. Truist Financial reissued a “buy” rating and issued a $250.00 price objective (up previously from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. BMO Capital Markets raised their price objective on shares of Check Point Software Technologies from $215.00 to $245.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Barclays raised their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Stifel Nicolaus raised their price objective on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Check Point Software Technologies in a report on Friday, January 31st. Nineteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $215.59.

Institutional Investors Weigh In On Check Point Software Technologies

Hedge funds have recently bought and sold shares of the business. Nemes Rush Group LLC purchased a new stake in Check Point Software Technologies during the fourth quarter valued at $25,000. FSA Wealth Management LLC bought a new position in Check Point Software Technologies during the third quarter valued at $27,000. GAMMA Investing LLC increased its position in Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Check Point Software Technologies during the fourth quarter valued at $35,000. Finally, Strategic Financial Concepts LLC bought a new position in Check Point Software Technologies during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.