Shares of Radware Ltd. (NASDAQ:RDWR – Get Free Report) have been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $30.00.
A number of research firms have recently weighed in on RDWR. Needham & Company LLC reiterated a “hold” rating on shares of Radware in a report on Thursday, May 7th. Wall Street Zen upgraded Radware from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Radware in a report on Friday, March 27th.
Check Out Our Latest Research Report on Radware
Radware Trading Up 0.6%
Radware (NASDAQ:RDWR – Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The information technology services provider reported $0.30 earnings per share for the quarter. The business had revenue of $79.81 million during the quarter. Radware had a return on equity of 7.69% and a net margin of 6.28%.
Radware declared that its Board of Directors has approved a share repurchase plan on Friday, February 13th that permits the company to buyback $80.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 7.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, COO Gabriel Malka sold 3,111 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $29.00, for a total transaction of $90,219.00. Following the completion of the transaction, the chief operating officer directly owned 61,422 shares in the company, valued at $1,781,238. This trade represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 21.58% of the stock is owned by company insiders.
Hedge Funds Weigh In On Radware
Hedge funds and other institutional investors have recently bought and sold shares of the company. Artisan Partners Limited Partnership boosted its holdings in Radware by 16.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,130,252 shares of the information technology services provider’s stock valued at $82,920,000 after acquiring an additional 431,572 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in Radware during the 4th quarter valued at about $503,000. New York State Common Retirement Fund boosted its holdings in Radware by 27.2% during the 3rd quarter. New York State Common Retirement Fund now owns 274,362 shares of the information technology services provider’s stock valued at $7,268,000 after acquiring an additional 58,730 shares during the period. Semanteon Capital Management LP purchased a new position in Radware during the 3rd quarter valued at about $562,000. Finally, Robertson Stephens Wealth Management LLC purchased a new position in Radware during the 4th quarter valued at about $709,000. 73.12% of the stock is currently owned by hedge funds and other institutional investors.
About Radware
Radware Ltd. provides cybersecurity and application delivery solutions designed to ensure the availability, performance and security of mission‐critical applications. Its product portfolio includes on‐premises and cloud‐based offerings such as Alteon application delivery controllers, DefensePro network behavior analysis for DDoS mitigation and AppWall web application firewall. The company’s platforms use real‐time behavioral analysis, machine learning and automation to protect against distributed denial‐of‐service attacks, application layer threats and network intrusions.
Founded in 1997, Radware is co-headquartered in Tel Aviv, Israel, with a principal U.S.
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