Radware (NASDAQ:RDWR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Radware from “hold” to “buy,” signaling a more favorable view of the cybersecurity and application-delivery company.
• Radware reported quarterly revenue of $82.28 million and earnings of $0.30 per share; its shares opened at $29.56, with a market capitalization of approximately $1.24 billion.
• Institutional investors own 73.12% of Radware, while insiders hold 21.58%. CFO Guy Avidan bought 2,000 shares, while COO Gabriel Malka sold 6,500 shares in separate transactions.

Radware (NASDAQ:RDWR - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Sunday, Wall Street Zen reports.

Radware Stock Performance

Shares of Radware stock opened at $29.56 on Friday. The stock has a market cap of $1.24 billion, a P/E ratio of 77.79 and a beta of 0.85. The stock's fifty day moving average is $28.53 and its 200 day moving average is $28.01. Radware has a one year low of $21.68 and a one year high of $32.79.

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

Insider Activity at Radware

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in Radware during the second quarter valued at about $27,000. Public Employees Retirement System of Ohio bought a new position in shares of Radware in the second quarter worth about $2,057,000. Handelsbanken Fonder AB grew its position in shares of Radware by 3.7% during the second quarter. Handelsbanken Fonder AB now owns 19,500 shares of the information technology services provider's stock worth $602,000 after purchasing an additional 700 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Radware by 87.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 54,630 shares of the information technology services provider's stock worth $1,686,000 after purchasing an additional 25,499 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Radware by 27.9% during the 1st quarter. Pacer Advisors Inc. now owns 5,409 shares of the information technology services provider's stock valued at $142,000 after purchasing an additional 1,179 shares during the period. Hedge funds and other institutional investors 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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