Key Points
- Radware insider Rivkah Goldriech sold 1,375 shares on May 22 at an average price of $29.50, for a total of $40,562.50. After the sale, Goldriech still directly owned 60,741 shares.
- Radware’s stock was trading near recent highs, opening at $29.01 with a 52-week range of $21.68 to $31.57. The company has a market cap of about $1.22 billion and a consensus analyst rating of “Hold.”
- The company has also authorized a share buyback of up to $80 million, covering about 7.1% of outstanding shares. Radware recently reported quarterly EPS of $0.30 on revenue of $79.81 million.
Radware Ltd. (NASDAQ:RDWR - Get Free Report) insider Rivkah Goldriech sold 1,375 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $29.50, for a total transaction of $40,562.50. Following the completion of the transaction, the insider directly owned 60,741 shares in the company, valued at $1,791,859.50. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Radware Price Performance
NASDAQ RDWR opened at $29.01 on Thursday. The firm's fifty day moving average price is $26.75 and its 200 day moving average price is $25.05. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 67.47 and a beta of 0.81. Radware Ltd. has a 12 month low of $21.68 and a 12 month high of $31.57.
Radware (NASDAQ:RDWR - Get Free Report) last posted its earnings results on Tuesday, March 31st. The information technology services provider reported $0.30 EPS for the quarter. The firm had revenue of $79.81 million for the quarter. Radware had a net margin of 6.28% and a return on equity of 7.69%.
Radware declared that its board has approved a share buyback plan on Friday, February 13th that authorizes the company to repurchase $80.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in Radware by 1.1% during the 1st quarter. California State Teachers Retirement System now owns 36,404 shares of the information technology services provider's stock worth $958,000 after purchasing an additional 402 shares during the last quarter. Lazard Asset Management LLC grew its position in Radware by 17.3% during the 1st quarter. Lazard Asset Management LLC now owns 98,020 shares of the information technology services provider's stock worth $2,580,000 after purchasing an additional 14,464 shares during the last quarter. Rice Hall James & Associates LLC grew its position in Radware by 2.4% during the 1st quarter. Rice Hall James & Associates LLC now owns 683,263 shares of the information technology services provider's stock worth $17,983,000 after purchasing an additional 16,204 shares during the last quarter. Parallel Advisors LLC grew its position in Radware by 48.8% during the 1st quarter. Parallel Advisors LLC now owns 1,140 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 374 shares during the last quarter. Finally, Swiss National Bank grew its position in Radware by 3.0% during the 1st quarter. Swiss National Bank now owns 69,600 shares of the information technology services provider's stock worth $1,832,000 after purchasing an additional 2,000 shares during the last quarter. 73.12% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on RDWR shares. Wall Street Zen raised shares of Radware from a "hold" rating to a "buy" rating in a research report on Saturday, April 4th. Weiss Ratings reissued a "sell (d+)" rating on shares of Radware in a research report on Friday, March 27th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Radware in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $30.00.
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About Radware
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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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