Sound Shore Management Inc. CT Has $89.41 Million Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Sound Shore Management Inc. CT lifted its holdings in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 42.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 478,888 shares of the technology company’s stock after buying an additional 142,328 shares during the period. Check Point Software Technologies makes up about 3.0% of Sound Shore Management Inc. CT’s portfolio, making the stock its 10th biggest holding. Sound Shore Management Inc. CT’s holdings in Check Point Software Technologies were worth $89,408,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CHKP. FSA Wealth Management LLC purchased a new position in Check Point Software Technologies in the third quarter worth about $27,000. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 60 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Check Point Software Technologies during the 4th quarter valued at approximately $35,000. Exchange Traded Concepts LLC raised its holdings in 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 valued at $44,000 after buying an additional 137 shares during the period. Finally, Iron Horse Wealth Management LLC lifted its position in Check Point Software Technologies by 370.6% in the fourth quarter. Iron Horse Wealth Management LLC now owns 240 shares of the technology company’s stock worth $45,000 after buying an additional 189 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Trading Down 0.5 %

Shares of NASDAQ CHKP opened at $227.97 on Monday. Check Point Software Technologies Ltd. has a 12-month low of $145.75 and a 12-month high of $232.37. The stock’s fifty day simple moving average is $213.13 and its two-hundred day simple moving average is $197.18. The stock has a market capitalization of $25.07 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 3.41 and a beta of 0.62.

Wall Street Analysts Forecast Growth

CHKP has been the topic of a number of analyst reports. Barclays boosted their price objective on shares of 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. BMO Capital Markets increased their price objective on shares of Check Point Software Technologies from $215.00 to $245.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Wells Fargo & Company upgraded Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $200.00 to $280.00 in a research report on Friday, March 14th. Citigroup increased their price target on Check Point Software Technologies from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Scotiabank boosted their price objective on Check Point Software Technologies from $215.00 to $250.00 and gave the company a “sector outperform” rating in a report on Friday, January 31st. Seventeen equities 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 stock. According to data from MarketBeat, the stock presently has a consensus 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.