Pinnacle West Asset Management Inc. Buys 100 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Pinnacle West Asset Management Inc. boosted its stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 9.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,200 shares of the technology company’s stock after acquiring an additional 100 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Check Point Software Technologies were worth $274,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CHKP. Assenagon Asset Management S.A. increased its stake in shares of Check Point Software Technologies by 184.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 57,690 shares of the technology company’s stock valued at $13,149,000 after purchasing an additional 37,407 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Check Point Software Technologies in the 1st quarter valued at $301,000. QRG Capital Management Inc. increased its stake in shares of Check Point Software Technologies by 19.1% in the 1st quarter. QRG Capital Management Inc. now owns 2,442 shares of the technology company’s stock valued at $557,000 after purchasing an additional 391 shares during the last quarter. World Investment Advisors increased its stake in shares of Check Point Software Technologies by 4.4% in the 4th quarter. World Investment Advisors now owns 30,041 shares of the technology company’s stock valued at $5,609,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Check Point Software Technologies by 15.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,937 shares of the technology company’s stock valued at $899,000 after purchasing an additional 541 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CHKP shares. Mizuho lifted their price target on Check Point Software Technologies from $230.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Wells Fargo & Company reduced their price objective on Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Wall Street Zen upgraded Check Point Software Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. Cantor Fitzgerald boosted their price objective on Check Point Software Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Finally, Barclays boosted their price objective on Check Point Software Technologies from $230.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Fifteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.50.

Check Point Software Technologies Price Performance

Shares of NASDAQ:CHKP opened at $220.11 on Monday. The company has a market capitalization of $24.21 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 3.15 and a beta of 0.64. The business’s 50-day moving average is $222.85 and its 200-day moving average is $217.81. Check Point Software Technologies Ltd. has a 1 year low of $169.01 and a 1 year high of $234.35.

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.