Millennium Management LLC Raises Position in Radware Ltd. (NASDAQ:RDWR)

Millennium Management LLC lifted its holdings in Radware Ltd. (NASDAQ:RDWR - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 613,795 shares of the information technology services provider's stock after acquiring an additional 75,474 shares during the period. Millennium Management LLC owned 1.46% of Radware worth $13,829,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Covestor Ltd bought a new position in shares of Radware in the fourth quarter worth about $28,000. Plato Investment Management Ltd bought a new position in shares of Radware in the fourth quarter worth about $30,000. New Age Alpha Advisors LLC bought a new position in shares of Radware in the fourth quarter worth about $32,000. Quantbot Technologies LP bought a new position in shares of Radware in the fourth quarter worth about $59,000. Finally, R Squared Ltd bought a new position in shares of Radware in the fourth quarter worth about $62,000. Institutional investors own 73.12% of the company's stock.

Radware Stock Down 1.0%

Radware stock traded down $0.24 during midday trading on Wednesday, reaching $23.65. 19,580 shares of the stock traded hands, compared to its average volume of 230,949. The stock's fifty day moving average is $22.25 and its 200-day moving average is $22.52. Radware Ltd. has a 12 month low of $17.01 and a 12 month high of $25.00. The stock has a market cap of $1.01 billion, a P/E ratio of 169.05 and a beta of 0.95.

Radware (NASDAQ:RDWR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.04. Radware had a return on equity of 3.81% and a net margin of 2.20%. The company had revenue of $72.08 million during the quarter, compared to analyst estimates of $70.56 million. During the same period in the prior year, the company earned $0.16 earnings per share. The firm's revenue was up 10.8% on a year-over-year basis. On average, equities analysts predict that Radware Ltd. will post 0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Radware in a research note on Friday, February 14th. Jefferies Financial Group dropped their price target on Radware from $26.00 to $24.00 and set a "hold" rating for the company in a research note on Monday, March 31st.

About Radware

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers worldwide. The company operates in two segments, Radware's Core Business and The Hawks' Business. It offers DefensePro provides automated DDoS protection; Radware Kubernetes, a web application firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.