Arrowstreet Capital Limited Partnership Sells 108,109 Shares of Radware Ltd. $RDWR

Key Points

• Arrowstreet Capital cut its Radware stake by 33.5% in the first quarter, selling 108,109 shares and retaining 214,242 shares worth approximately $5.64 million. Institutional investors collectively own 73.12% of the company.
• Analyst sentiment remains cautious: Needham reaffirmed a “hold” rating, while the consensus rating is “Reduce” with an average price target of $25.00.
• Radware reported quarterly revenue of $82.28 million and earnings of $0.30 per share. The stock opened at $26.19, compared with a 52-week range of $21.68 to $32.79, while company insiders have sold 5,236 shares over the past 90 days.

Arrowstreet Capital Limited Partnership lessened its holdings in Radware Ltd. (NASDAQ:RDWR - Free Report) by 33.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 214,242 shares of the information technology services provider's stock after selling 108,109 shares during the period. Arrowstreet Capital Limited Partnership owned 0.51% of Radware worth $5,639,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC grew its position in shares of Radware by 48.8% during the first 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 in the last quarter. Simplex Trading LLC raised its stake in Radware by 51.4% during the 4th quarter. Simplex Trading LLC now owns 1,544 shares of the information technology services provider's stock valued at $37,000 after purchasing an additional 524 shares during the period. Squarepoint Ops LLC lifted its holdings in Radware by 4.5% in the 3rd quarter. Squarepoint Ops LLC now owns 12,308 shares of the information technology services provider's stock worth $326,000 after purchasing an additional 527 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in Radware by 47.8% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,700 shares of the information technology services provider's stock worth $41,000 after purchasing an additional 550 shares in the last quarter. Finally, Legato Capital Management LLC boosted its stake in Radware by 8.7% in the 4th quarter. Legato Capital Management LLC now owns 8,403 shares of the information technology services provider's stock worth $202,000 after purchasing an additional 672 shares during the period. 73.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a "hold" rating on shares of Radware in a report on Thursday, May 7th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $25.00.

Radware Price Performance

RDWR opened at $26.19 on Monday. The company has a market capitalization of $1.10 billion, a PE ratio of 68.92 and a beta of 0.85. The firm has a 50-day simple moving average of $29.19 and a two-hundred day simple moving average of $26.92. Radware Ltd. has a 52 week low of $21.68 and a 52 week high of $32.79.

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

Insider Activity at Radware

In other news, COO Gabriel Malka sold 3,111 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $29.00, for a total transaction of $90,219.00. Following the sale, the chief operating officer directly owned 61,422 shares of the company's stock, valued at $1,781,238. This represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rivkah Goldriech sold 1,375 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $29.50, for a total value of $40,562.50. Following the transaction, the insider owned 60,741 shares of the company's stock, valued at $1,791,859.50. This represents a 2.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,236 shares of company stock valued at $154,782 in the last 90 days. 21.58% of the stock is currently owned by company insiders.

Radware Company Profile

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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