Avantax Advisory Services Inc. Raises Stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Avantax Advisory Services Inc. increased its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 87.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,636 shares of the technology company's stock after purchasing an additional 7,314 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Check Point Software Technologies were worth $2,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CHKP. Apollon Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies during the 3rd quarter worth approximately $334,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Check Point Software Technologies by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 196,273 shares of the technology company's stock worth $37,843,000 after acquiring an additional 531 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Check Point Software Technologies in the third quarter valued at $774,000. KBC Group NV boosted its stake in Check Point Software Technologies by 41.6% in the third quarter. KBC Group NV now owns 122,777 shares of the technology company's stock valued at $23,673,000 after acquiring an additional 36,042 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Check Point Software Technologies by 17.5% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,791 shares of the technology company's stock worth $538,000 after purchasing an additional 415 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

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Check Point Software Technologies Stock Up 0.2 %

Shares of Check Point Software Technologies stock traded up $0.57 during trading on Wednesday, hitting $230.32. 696,992 shares of the company were exchanged, compared to its average volume of 997,746. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $232.37. The firm has a 50 day moving average price of $210.35 and a 200 day moving average price of $196.37. The stock has a market capitalization of $25.33 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 3.41 and a beta of 0.62.

Analyst Upgrades and Downgrades

CHKP has been the subject of several research reports. Morgan Stanley assumed coverage on Check Point Software Technologies in a report on Tuesday. They issued an "equal weight" rating and a $235.00 target price for the company. Robert W. Baird upgraded Check Point Software Technologies from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $235.00 to $255.00 in a research note on Thursday, February 27th. Truist Financial restated a "buy" rating and set a $250.00 target price (up from $220.00) on shares of Check Point Software Technologies in a research report on Friday, January 31st. Arete Research upgraded shares of Check Point Software Technologies to a "hold" rating in a research report on Monday, February 24th. Finally, Susquehanna increased their price target on shares of Check Point Software Technologies from $215.00 to $255.00 and gave the stock a "positive" rating in a research note on Friday, January 31st. Eighteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $229.86.

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.