Caas Capital Management LP Increases Holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Caas Capital Management LP boosted its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,300 shares of the technology company's stock after buying an additional 2,200 shares during the period. Check Point Software Technologies accounts for about 0.5% of Caas Capital Management LP's portfolio, making the stock its 12th largest holding. Caas Capital Management LP's holdings in Check Point Software Technologies were worth $2,670,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in Check Point Software Technologies during the 3rd quarter valued at about $27,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Check Point Software Technologies during the 3rd quarter worth approximately $33,000. GAMMA Investing LLC grew its position in shares of Check Point Software Technologies by 53.1% in the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company's stock valued at $32,000 after purchasing an additional 60 shares in the last quarter. Concord Wealth Partners acquired a new stake in shares of Check Point Software Technologies in the third quarter valued at approximately $37,000. Finally, Exchange Traded Concepts LLC boosted its stake in Check Point Software Technologies by 142.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company's stock worth $44,000 after buying an additional 137 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CHKP shares. Truist Financial reiterated a "buy" rating and set a $250.00 price target (up previously from $220.00) on shares of Check Point Software Technologies in a report on Friday, January 31st. Bank of America downgraded shares of Check Point Software Technologies from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Needham & Company LLC reissued a "hold" rating on shares of Check Point Software Technologies in a research note on Friday, January 31st. UBS Group lifted their price target on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Robert W. Baird lowered their price objective on Check Point Software Technologies from $210.00 to $205.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. Nineteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $215.59.

Check Point Software Technologies Stock Performance

CHKP stock traded down $0.20 during mid-day trading on Friday, reaching $212.24. The company had a trading volume of 1,053,976 shares, compared to its average volume of 897,991. The firm has a fifty day simple moving average of $191.22 and a 200 day simple moving average of $188.92. The company has a market capitalization of $23.34 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $226.02.

About Check Point Software Technologies

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.