Proficio Capital Partners LLC Invests $13.84 Million in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Proficio Capital Partners LLC bought a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 4th quarter, Holdings Channel reports. The institutional investor bought 74,120 shares of the technology company’s stock, valued at approximately $13,838,000.

Other large investors have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in shares of Check Point Software Technologies in the 3rd quarter worth $27,000. GAMMA Investing LLC raised its position in shares of Check Point Software Technologies by 53.1% in the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after buying an additional 60 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter worth $35,000. Strategic Financial Concepts LLC purchased a new position in shares of Check Point Software Technologies in the 4th quarter worth $35,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Check Point Software Technologies by 142.7% in the 4th 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 period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CHKP has been the topic of several research reports. Scotiabank increased their target price on Check Point Software Technologies from $215.00 to $250.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 31st. Barclays raised their price objective on Check Point Software Technologies from $200.00 to $230.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Susquehanna raised their price objective on Check Point Software Technologies from $215.00 to $255.00 and gave the company a “positive” rating in a research report on Friday, January 31st. Guggenheim reissued a “neutral” rating on shares of Check Point Software Technologies in a research report on Friday, January 31st. Finally, Piper Sandler raised Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $220.00 to $260.00 in a research report on Monday, March 3rd. Eighteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $227.26.

Check Point Software Technologies Stock Performance

NASDAQ:CHKP opened at $224.84 on Friday. The company has a market capitalization of $24.73 billion, a price-to-earnings ratio of 30.10, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62. Check Point Software Technologies Ltd. has a one year low of $145.75 and a one year high of $230.65. The stock has a 50-day simple moving average of $208.38 and a 200 day simple moving average of $195.74.

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.