Summit Global Investments Sells 4,974 Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Summit Global Investments cut its stake in Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 81.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,131 shares of the technology company’s stock after selling 4,974 shares during the quarter. Summit Global Investments’ holdings in Check Point Software Technologies were worth $211,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CHKP. FSA Wealth Management LLC acquired a new position in Check Point Software Technologies in the 3rd quarter valued at $27,000. GAMMA Investing LLC boosted its position in shares of Check Point Software Technologies by 53.1% in 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 period. Golden State Wealth Management LLC acquired a new position in shares of Check Point Software Technologies in the fourth quarter valued at about $35,000. Exchange Traded Concepts LLC increased its position in Check Point Software Technologies by 142.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the technology company’s stock worth $44,000 after acquiring an additional 137 shares during the period. Finally, Iron Horse Wealth Management LLC raised its stake in Check Point Software Technologies by 370.6% in the 4th quarter. Iron Horse Wealth Management LLC now owns 240 shares of the technology company’s stock worth $45,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CHKP shares. Jefferies Financial Group raised their target price on shares of Check Point Software Technologies from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Piper Sandler upgraded Check Point Software Technologies from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $220.00 to $260.00 in a research note on Monday, March 3rd. Mizuho upped their target price on Check Point Software Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Arete Research raised Check Point Software Technologies to a “hold” rating in a report on Monday, February 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Check Point Software Technologies in a research report on Thursday, February 27th. Seventeen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Check Point Software Technologies has an average rating of “Hold” and an average target price of $229.86.

Check Point Software Technologies Price Performance

CHKP opened at $230.58 on Wednesday. Check Point Software Technologies Ltd. has a fifty-two week low of $145.75 and a fifty-two week high of $232.37. The company’s 50 day moving average price is $214.99 and its two-hundred day moving average price is $197.76. The firm has a market capitalization of $25.36 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 3.41 and a beta of 0.62.

Check Point Software Technologies 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.