ARK Investment Management LLC Has $1.93 Million Stock Position in Radware Ltd. (NASDAQ:RDWR)

Key Points

• ARK Investment Management LLC increased its stake in Radware Ltd. by 13.5% in the first quarter, owning approximately 89,327 shares valued at $1,931,000.
• Several analysts have issued ratings on Radware, with a consensus price target set at $30.00 and ratings ranging from hold to strong buy.
• Radware reported a net margin of 4.12% and revenue of $72.08 million for the last quarter, reflecting a 10.8% year-over-year increase.

ARK Investment Management LLC lifted its holdings in shares of Radware Ltd. (NASDAQ:RDWR - Free Report) by 13.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,327 shares of the information technology services provider's stock after acquiring an additional 10,594 shares during the period. ARK Investment Management LLC owned 0.21% of Radware worth $1,931,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund grew its holdings in Radware by 12.2% in the 1st quarter. New York State Common Retirement Fund now owns 177,085 shares of the information technology services provider's stock valued at $3,829,000 after buying an additional 19,320 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Radware by 69.4% in the first quarter. Teacher Retirement System of Texas now owns 16,060 shares of the information technology services provider's stock worth $347,000 after purchasing an additional 6,582 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Radware by 18.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,941 shares of the information technology services provider's stock valued at $416,000 after buying an additional 2,960 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Radware by 20.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 151,897 shares of the information technology services provider's stock valued at $3,284,000 after purchasing an additional 25,681 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Radware in the 1st quarter worth about $2,127,000. 73.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RDWR has been the topic of a number of research analyst reports. Wolfe Research assumed coverage on Radware in a report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Jefferies Financial Group increased their price target on Radware from $25.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Radware currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Radware Price Performance

RDWR traded down $2.12 on Wednesday, hitting $26.22. The company had a trading volume of 252,583 shares, compared to its average volume of 211,525. Radware Ltd. has a 52-week low of $18.46 and a 52-week high of $31.57. The firm has a market capitalization of $1.12 billion, a P/E ratio of 97.10 and a beta of 0.99. The stock has a fifty day simple moving average of $27.11 and a 200-day simple moving average of $23.94.

Radware (NASDAQ:RDWR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The information technology services provider reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. The company had revenue of $74.22 million for the quarter, compared to analyst estimates of $73.42 million. Radware had a net margin of 4.12% and a return on equity of 5.39%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 EPS. Equities research analysts expect that Radware Ltd. will post 0.28 earnings per share for the current fiscal year.

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.