Renaissance Technologies LLC Sells 237,795 Shares of Radware Ltd. $RDWR

Key Points

• Renaissance Technologies reduced its Radware stake by 14.6%, selling 237,795 shares and retaining 1.39 million shares worth approximately $36.5 million. Institutional investors collectively own 73.12% of the company.
• Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating; the consensus is Hold with an average price target of $30.00.
• Radware shares opened at $28.21 after declining 3.7%. In its latest quarter, the company reported $0.30 in earnings per share and $79.81 million in revenue, while insiders have sold 5,236 shares worth about $154,782 over the past 90 days.

Renaissance Technologies LLC trimmed its position in shares of Radware Ltd. (NASDAQ:RDWR - Free Report) by 14.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,388,231 shares of the information technology services provider's stock after selling 237,795 shares during the period. Renaissance Technologies LLC owned approximately 3.30% of Radware worth $36,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC grew its holdings in shares of Radware by 48.8% in the first quarter. Parallel Advisors LLC now owns 1,140 shares of the information technology services provider's stock valued at $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 fourth 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 in the last quarter. Squarepoint Ops LLC raised its stake in Radware by 4.5% during the third quarter. Squarepoint Ops LLC now owns 12,308 shares of the information technology services provider's stock valued at $326,000 after purchasing an additional 527 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Radware by 47.8% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,700 shares of the information technology services provider's stock valued at $41,000 after purchasing an additional 550 shares during the last quarter. Finally, Legato Capital Management LLC lifted its position in Radware by 8.7% during the fourth quarter. Legato Capital Management LLC now owns 8,403 shares of the information technology services provider's stock valued at $202,000 after purchasing an additional 672 shares during the last quarter. 73.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of Radware in a report on Thursday, May 7th. Wall Street Zen upgraded Radware from a "hold" rating to a "buy" rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $30.00.

Radware Trading Down 3.7%

Shares of RDWR opened at $28.21 on Wednesday. The company's fifty day simple moving average is $29.44 and its 200-day simple moving average is $26.91. The company has a market cap of $1.19 billion, a P/E ratio of 65.61 and a beta of 0.84. Radware Ltd. has a twelve month low of $21.68 and a twelve month high of $32.79.

Radware (NASDAQ:RDWR - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The information technology services provider reported $0.30 EPS for the quarter. Radware had a net margin of 6.28% and a return on equity of 7.69%. The company had revenue of $79.81 million for the quarter.

Insider Activity at Radware

In other Radware news, COO Gabriel Malka sold 3,111 shares of the business'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 completion of the transaction, the chief operating officer owned 61,422 shares in the company, valued at $1,781,238. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rivkah Goldriech sold 1,375 shares of the company's 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 directly owned 60,741 shares in the company, valued at approximately $1,791,859.50. This represents a 2.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 5,236 shares of company stock valued at $154,782 in the last 90 days. Company insiders own 21.58% of the company's stock.

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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