ARK Investment Management LLC Invests $1.58 Million in Radcom Ltd. (NASDAQ:RDCM)

Key Points

• ARK Investment Management LLC has acquired a new position in Radcom Ltd., purchasing 137,832 shares valued at approximately $1,575,000, representing 0.88% of the company.
• Several institutional investors, including AWM Investment Company and Renaissance Technologies, also increased their stakes in Radcom during the 4th quarter, highlighting growing interest in the company.
• Wall Street analysts have positively rated Radcom, with Needham & Company raising their target price from $17.00 to $18.00 and elevating their recommendation to a "buy."

ARK Investment Management LLC bought a new position in shares of Radcom Ltd. (NASDAQ:RDCM - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 137,832 shares of the technology company's stock, valued at approximately $1,575,000. ARK Investment Management LLC owned approximately 0.88% of Radcom at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RDCM. Walleye Capital LLC acquired a new position in Radcom in the fourth quarter valued at approximately $681,000. Acuitas Investments LLC lifted its holdings in Radcom by 21.4% in the first quarter. Acuitas Investments LLC now owns 222,725 shares of the technology company's stock valued at $2,546,000 after buying an additional 39,227 shares during the period. Millennium Management LLC lifted its holdings in Radcom by 171.6% in the fourth quarter. Millennium Management LLC now owns 57,505 shares of the technology company's stock valued at $711,000 after buying an additional 36,333 shares during the period. AWM Investment Company Inc. lifted its holdings in Radcom by 2.8% in the fourth quarter. AWM Investment Company Inc. now owns 991,261 shares of the technology company's stock valued at $12,252,000 after buying an additional 27,394 shares during the period. Finally, Northern Trust Corp acquired a new position in Radcom in the fourth quarter valued at approximately $269,000. 48.32% of the stock is currently owned by institutional investors and hedge funds.

Radcom Price Performance

RDCM traded down $0.45 during mid-day trading on Tuesday, hitting $14.02. The stock had a trading volume of 68,635 shares, compared to its average volume of 70,987. The stock's fifty day simple moving average is $13.22 and its 200-day simple moving average is $12.64. Radcom Ltd. has a 1-year low of $9.19 and a 1-year high of $15.98. The firm has a market capitalization of $219.55 million, a price-to-earnings ratio of 25.96 and a beta of 0.73.

Analysts Set New Price Targets

RDCM has been the topic of several analyst reports. Wall Street Zen upgraded shares of Radcom from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Needham & Company LLC increased their target price on shares of Radcom from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, May 15th.

Radcom Company Profile

RADCOM Ltd. provides 5G ready cloud-native, network intelligence, and service assurance solutions for telecom operators or communication service providers (CSPs). It offers RADCOM ACE, including RADCOM Service Assurance, a cloud-native, 5G-ready, and virtualized service assurance solutions, which allows telecom operators to gain end-to-end network visibility and customer experience insights across all networks; RADCOM Network Visibility, a cloud-native network packet broker and filtering solution that allows CSPs to manage network traffic at scale across multiple cloud environments, and control the visibility layer to perform analysis of select datasets; and RADCOM Network Insights, a business intelligence solution that offers insights for multiple use cases enabled by data captured and correlated through RADCOM Network Visibility and RADCOM Service Assurance.