Pinnacle West Asset Management Inc. Raises Stock Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Pinnacle West Asset Management Inc. grew its position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,100 shares of the technology company’s stock after buying an additional 60 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Check Point Software Technologies were worth $205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in Check Point Software Technologies in the 3rd quarter valued at about $27,000. GAMMA Investing LLC increased its position in shares of Check Point Software Technologies by 53.1% during the fourth quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Check Point Software Technologies in the 4th quarter valued at approximately $35,000. Concord Wealth Partners acquired a new position in shares of Check Point Software Technologies in the 3rd quarter worth approximately $37,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Check Point Software Technologies by 142.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $218.63 on Wednesday. Check Point Software Technologies Ltd. has a 12 month low of $145.75 and a 12 month high of $226.02. The company has a market capitalization of $24.05 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 3.41 and a beta of 0.65. The firm’s fifty day moving average price is $199.35 and its 200 day moving average price is $192.67.

Analysts Set New Price Targets

A number of research analysts have commented on the company. The Goldman Sachs Group cut Check Point Software Technologies from a “buy” rating to a “neutral” rating and upped their price target for the stock from $204.00 to $207.00 in a research note on Thursday, January 2nd. Bank of America lowered Check Point Software Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $205.00 to $195.00 in a research note on Wednesday, October 30th. Scotiabank lifted their target price on Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a research report on Friday, January 31st. 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 report on Friday, January 31st. Finally, UBS Group lifted their price objective on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Twenty analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $216.95.

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.