NewEdge Advisors LLC Purchases 3,647 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

NewEdge Advisors LLC increased its position in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP - Free Report) by 25.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,114 shares of the technology company's stock after acquiring an additional 3,647 shares during the period. NewEdge Advisors LLC's holdings in Check Point Software Technologies were worth $3,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors increased its holdings in shares of Check Point Software Technologies by 4.4% during the fourth quarter. World Investment Advisors now owns 30,041 shares of the technology company's stock worth $5,609,000 after buying an additional 1,278 shares in the last quarter. Crux Wealth Advisors bought a new stake in shares of Check Point Software Technologies during the fourth quarter worth about $542,000. Truist Financial Corp increased its stake in shares of Check Point Software Technologies by 2.6% in the fourth quarter. Truist Financial Corp now owns 119,504 shares of the technology company's stock valued at $22,311,000 after buying an additional 3,080 shares during the period. Vestmark Advisory Solutions Inc. raised its holdings in Check Point Software Technologies by 99.3% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,973 shares of the technology company's stock valued at $928,000 after buying an additional 2,478 shares during the last quarter. Finally, Hickory Asset Management Inc. acquired a new position in Check Point Software Technologies in the 4th quarter valued at approximately $476,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Check Point Software Technologies Trading Down 1.1 %

Shares of CHKP traded down $2.33 during trading hours on Friday, reaching $206.55. 509,026 shares of the company's stock traded hands, compared to its average volume of 778,437. The firm's 50 day simple moving average is $220.73 and its 200-day simple moving average is $201.95. The stock has a market cap of $22.72 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $234.36.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CHKP shares. Piper Sandler upgraded shares of Check Point Software Technologies from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $220.00 to $260.00 in a report on Monday, March 3rd. StockNews.com downgraded Check Point Software Technologies from a "buy" rating to a "hold" rating in a report on Wednesday. Citigroup lifted their price objective on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Barclays increased 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 research report on Thursday, January 30th. Finally, Stifel Nicolaus upped their price target on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Eighteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $232.04.

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.