Hudson Bay Capital Management LP Takes Position in Check Point Software Technologies Ltd. (NASDAQ:CHKP)

Hudson Bay Capital Management LP purchased a new position in Check Point Software Technologies Ltd. (NASDAQ:CHKP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 32,026 shares of the technology company’s stock, valued at approximately $5,979,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CHKP. Gen Wealth Partners Inc lifted its stake in Check Point Software Technologies by 33.1% in the 4th quarter. Gen Wealth Partners Inc now owns 4,319 shares of the technology company’s stock valued at $806,000 after buying an additional 1,074 shares in the last quarter. Ellevest Inc. raised its holdings in shares of Check Point Software Technologies by 2.6% during the fourth quarter. Ellevest Inc. now owns 3,222 shares of the technology company’s stock valued at $602,000 after acquiring an additional 81 shares during the last quarter. Fiduciary Trust Co purchased a new position in shares of Check Point Software Technologies in the fourth quarter valued at approximately $303,000. EP Wealth Advisors LLC boosted its stake in shares of Check Point Software Technologies by 12.1% in the fourth quarter. EP Wealth Advisors LLC now owns 1,496 shares of the technology company’s stock worth $279,000 after acquiring an additional 161 shares during the last quarter. Finally, Concentric Capital Strategies LP increased its position in shares of Check Point Software Technologies by 324.1% during the fourth quarter. Concentric Capital Strategies LP now owns 51,013 shares of the technology company’s stock worth $9,524,000 after purchasing an additional 38,985 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Check Point Software Technologies Price Performance

Shares of NASDAQ CHKP opened at $217.23 on Tuesday. The business has a 50-day moving average of $220.09 and a two-hundred day moving average of $202.81. The company has a market capitalization of $23.89 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 3.41 and a beta of 0.66. Check Point Software Technologies Ltd. has a 1 year low of $145.75 and a 1 year high of $234.36.

Check Point Software Technologies (NASDAQ:CHKP) last posted its earnings results on Wednesday, April 23rd. The technology company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.02. The firm had revenue of $637.80 million during the quarter, compared to analysts’ expectations of $635.80 million. Check Point Software Technologies had a return on equity of 32.40% and a net margin of 32.97%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.04 earnings per share. As a group, equities research analysts expect that Check Point Software Technologies Ltd. will post 8.61 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CHKP shares. UBS Group increased their target price on shares of Check Point Software Technologies from $200.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Wells Fargo & Company lowered their price target on Check Point Software Technologies from $280.00 to $265.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Scotiabank decreased their price objective on shares of Check Point Software Technologies from $250.00 to $240.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 24th. Robert W. Baird upgraded shares of Check Point Software Technologies from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $235.00 to $255.00 in a report on Thursday, February 27th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price target on shares of Check Point Software Technologies in a research note on Monday, January 27th. Eighteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Check Point Software Technologies currently has an average rating of “Hold” and an average target price of $232.04.

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.