Tidal Investments LLC Buys New Shares in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Tidal Investments LLC bought a new stake in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,984 shares of the technology company’s stock, valued at approximately $6,558,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Concord Wealth Partners purchased a new stake in shares of Check Point Software Technologies in the first quarter worth about $31,000. Richardson Financial Services Inc. bought a new stake in Check Point Software Technologies during the fourth quarter worth approximately $33,000. Y.D. More Investments Ltd increased its stake in Check Point Software Technologies by 37.0% during the fourth quarter. Y.D. More Investments Ltd now owns 500 shares of the technology company’s stock worth $76,000 after acquiring an additional 135 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Check Point Software Technologies during the fourth quarter worth approximately $92,000. Finally, Transcendent Capital Group LLC bought a new stake in Check Point Software Technologies during the first quarter worth approximately $107,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP traded down $1.97 during mid-day trading on Thursday, hitting $181.48. The stock had a trading volume of 247,120 shares, compared to its average volume of 708,889. The company has a 50 day moving average of $163.71 and a two-hundred day moving average of $160.82. Check Point Software Technologies Ltd. has a twelve month low of $125.68 and a twelve month high of $186.75. The firm has a market cap of $20.49 billion, a PE ratio of 25.48, a PEG ratio of 2.85 and a beta of 0.62.

Check Point Software Technologies (NASDAQ:CHKP) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.01. The company had revenue of $627.40 million for the quarter, compared to the consensus estimate of $623.19 million. Check Point Software Technologies had a return on equity of 31.59% and a net margin of 33.61%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $1.74 EPS. Equities research analysts predict that Check Point Software Technologies Ltd. will post 7.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CHKP shares. Barclays boosted their price objective on Check Point Software Technologies from $175.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Jefferies Financial Group boosted their price objective on Check Point Software Technologies from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and set a $200.00 target price (up previously from $175.00) on shares of Check Point Software Technologies in a research note on Thursday, July 25th. Wedbush upped their target price on Check Point Software Technologies from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Scotiabank upped their target price on Check Point Software Technologies from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $183.68.

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.