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Radware Ltd. (NASDAQ:RDWR) Shares Sold by Phoenix Financial Ltd.

Radware logo with Computer and Technology background

Key Points

  • Phoenix Financial Ltd. reduced its stake in Radware Ltd. by 40.6% in Q1, now holding 546,514 shares valued at approximately $11.81 million.
  • Radware reported earnings of $0.27 per share, beating expectations of $0.23, with a revenue increase of 10.8% year-over-year during the last quarter.
  • Analyst ratings for Radware indicate a moderate buy with an average target price of $30.00, following recent upgrades from firms like Jefferies and Wolfe Research.
  • Five stocks to consider instead of Radware.

Phoenix Financial Ltd. lowered its position in Radware Ltd. (NASDAQ:RDWR - Free Report) by 40.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 546,514 shares of the information technology services provider's stock after selling 372,834 shares during the quarter. Phoenix Financial Ltd. owned 1.28% of Radware worth $11,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in Radware by 14.8% in the fourth quarter. Legal & General Group Plc now owns 2,235,702 shares of the information technology services provider's stock valued at $50,370,000 after purchasing an additional 287,913 shares during the period. Cooper Creek Partners Management LLC raised its position in Radware by 264.3% in the fourth quarter. Cooper Creek Partners Management LLC now owns 956,764 shares of the information technology services provider's stock valued at $21,556,000 after purchasing an additional 694,112 shares during the period. First Trust Advisors LP raised its position in Radware by 2.4% in the fourth quarter. First Trust Advisors LP now owns 882,255 shares of the information technology services provider's stock valued at $19,877,000 after purchasing an additional 20,658 shares during the period. Millennium Management LLC raised its position in Radware by 14.0% in the fourth quarter. Millennium Management LLC now owns 613,795 shares of the information technology services provider's stock valued at $13,829,000 after purchasing an additional 75,474 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Radware by 6.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 438,003 shares of the information technology services provider's stock valued at $9,868,000 after purchasing an additional 27,804 shares during the period. 73.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wolfe Research assumed coverage on Radware in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Jefferies Financial Group lifted their target price on Radware from $25.00 to $30.00 and gave the stock a "hold" rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $30.00.

Read Our Latest Research Report on RDWR

Radware Stock Performance

Shares of NASDAQ RDWR traded down $0.05 during midday trading on Tuesday, reaching $27.93. 123,182 shares of the company's stock were exchanged, compared to its average volume of 209,333. Radware Ltd. has a 52-week low of $18.39 and a 52-week high of $31.57. The stock has a market capitalization of $1.19 billion, a PE ratio of 103.45 and a beta of 0.99. The business's fifty day moving average price is $27.01 and its two-hundred day moving average price is $23.91.

Radware (NASDAQ:RDWR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. The business had revenue of $72.08 million during the quarter, compared to the consensus estimate of $70.56 million. Radware had a return on equity of 5.39% and a net margin of 4.12%. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. Analysts predict that Radware Ltd. will post 0.28 earnings per share for the current fiscal year.

Radware Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Radware (NASDAQ:RDWR)

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