JPMorgan Chase & Co. Sells 59,333 Shares of Radware Ltd. $RDWR

Key Points

• JPMorgan Chase trimmed its stake in Radware by 22.6%, selling 59,333 shares and ending the quarter with 203,586 shares (about 0.48% of the company) worth ~$5.39 million.
• Radware beat quarterly estimates with $0.32 EPS and $80.25 million revenue (revenue +9.9% YoY), while sell‑side analysts' consensus is a "Hold" rating with an average price target of $30.00.
• The board approved an $80 million stock buyback authorization (up to ~7.1% of outstanding shares), a move typically signalling the board views the shares as undervalued.

JPMorgan Chase & Co. lessened its stake in Radware Ltd. (NASDAQ:RDWR - Free Report) by 22.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 203,586 shares of the information technology services provider's stock after selling 59,333 shares during the period. JPMorgan Chase & Co. owned about 0.48% of Radware worth $5,393,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RDWR. Pacer Advisors Inc. increased its stake in Radware by 200.9% during the third quarter. Pacer Advisors Inc. now owns 2,341 shares of the information technology services provider's stock valued at $62,000 after acquiring an additional 1,563 shares during the period. Inceptionr LLC bought a new stake in shares of Radware in the 3rd quarter worth approximately $212,000. Kestra Private Wealth Services LLC bought a new stake in shares of Radware in the 3rd quarter worth approximately $237,000. Aquatic Capital Management LLC acquired a new stake in shares of Radware during the 3rd quarter worth approximately $290,000. Finally, Quantbot Technologies LP grew its holdings in shares of Radware by 5,996.7% during the 3rd quarter. Quantbot Technologies LP now owns 11,096 shares of the information technology services provider's stock worth $294,000 after purchasing an additional 10,914 shares in the last quarter. 73.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings restated a "sell (d+)" rating on shares of Radware in a research note on Friday, March 27th. Wall Street Zen lowered shares of Radware from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Finally, Jefferies Financial Group set a $25.00 price objective on shares of Radware in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $30.00.

Radware Trading Up 2.7%

RDWR stock opened at $27.02 on Thursday. Radware Ltd. has a 1-year low of $18.46 and a 1-year high of $31.57. The business's 50 day moving average is $25.16 and its 200-day moving average is $24.83. The firm has a market cap of $1.15 billion, a P/E ratio of 60.05 and a beta of 0.87.

Radware (NASDAQ:RDWR - Get Free Report) last posted its earnings results on Wednesday, February 11th. The information technology services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $80.25 million during the quarter, compared to the consensus estimate of $78.65 million. Radware had a return on equity of 7.21% and a net margin of 6.71%.Radware's revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. Sell-side analysts forecast that Radware Ltd. will post 0.28 EPS for the current year.

Radware announced that its board has authorized a stock buyback program on Friday, February 13th that permits the company to repurchase $80.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 7.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Radware 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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