Radware (NASDAQ:RDWR) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Radware from “buy” to “hold,” citing a more cautious view of the cybersecurity and application-delivery company.
• Radware shares opened at $29.13, with a $1.23 billion market capitalization and a 52-week trading range of $21.68 to $32.79. The company’s latest quarter included $0.30 in earnings per share and $82.28 million in revenue.
• Insider activity was mixed: CFO Guy Avidan bought $50,420 of shares, while COO Gabriel Malka sold $195,000. Institutional investors and hedge funds own approximately 73.12% of Radware’s stock.

Radware (NASDAQ:RDWR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Radware Price Performance

Shares of NASDAQ:RDWR opened at $29.13 on Friday. The company has a market capitalization of $1.23 billion, a P/E ratio of 76.66 and a beta of 0.85. Radware has a 1 year low of $21.68 and a 1 year high of $32.79. The business's 50 day simple moving average is $28.60 and its 200 day simple moving average is $27.81.

Radware (NASDAQ:RDWR - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The information technology services provider reported $0.30 earnings per share for the quarter. The firm had revenue of $82.28 million during the quarter. Radware had a return on equity of 7.47% and a net margin of 5.34%.

Insider Activity

In other news, CFO Guy Avidan acquired 2,000 shares of Radware stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $25.21 per share, for a total transaction of $50,420.00. Following the completion of the purchase, the chief financial officer directly owned 95,800 shares of the company's stock, valued at approximately $2,415,118. This represents a 2.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Gabriel Malka sold 6,500 shares of the firm's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $30.00, for a total transaction of $195,000.00. Following the completion of the transaction, the chief operating officer directly owned 47,922 shares in the company, valued at approximately $1,437,660. This represents a 11.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 21.58% of the company's stock.

Institutional Trading of Radware

Several large investors have recently made changes to their positions in RDWR. Rice Hall James & Associates LLC lifted its stake in Radware by 2.4% during the first 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. Lazard Asset Management LLC grew its position in Radware by 17.3% in the first quarter. Lazard Asset Management LLC now owns 98,020 shares of the information technology services provider's stock valued at $2,580,000 after acquiring an additional 14,464 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Radware in the second quarter worth about $2,057,000. Swiss National Bank lifted its holdings in shares of Radware by 3.0% in the first quarter. Swiss National Bank now owns 69,600 shares of the information technology services provider's stock worth $1,832,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Radware by 87.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 54,630 shares of the information technology services provider's stock valued at $1,686,000 after purchasing an additional 25,499 shares in the last quarter. Institutional investors and hedge funds own 73.12% of the company's stock.

Radware Company Profile

Radware Ltd. is a global provider of application delivery and cybersecurity solutions. The company helps enterprises, telecommunications carriers, cloud service providers and other organizations protect digital assets, maintain application availability and improve the performance of business-critical applications across on-premises, hybrid and cloud environments.

Radware's portfolio includes distributed denial-of-service (DDoS) protection, web application and API security, bot management, cloud security services, network and application performance monitoring, and application delivery controllers.

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