Insider Selling: Radware (NASDAQ:RDWR) Insider Sells 24,277 Shares of Stock

Key Points

• Radware insider Rivkah Goldriech sold 24,277 shares at an average price of $34.66, generating $841,440.82 and reducing her direct ownership by 40.47%. She also sold an additional 4,125 shares at $36.00 the following day.
• Radware reported quarterly EPS of $0.32, exceeding estimates of $0.29, while revenue rose 12% year over year to $84.36 million, above expectations of $83.02 million.
• The stock traded at $36.05, near its 52-week high of $38.50. Analysts maintained a consensus “Hold” rating with a $40.00 target price, while institutional investors owned 73.12% of the company.

Radware Ltd. (NASDAQ:RDWR - Get Free Report) insider Rivkah Goldriech sold 24,277 shares of the stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $34.66, for a total transaction of $841,440.82. Following the completion of the transaction, the insider directly owned 35,714 shares in the company, valued at $1,237,847.24. This trade represents a 40.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rivkah Goldriech also recently made the following trade(s):

• On Wednesday, October 28th, Rivkah Goldriech sold 4,125 shares of Radware stock. The shares were sold at an average price of $36.00, for a total transaction of $148,500.00.

Radware Stock Performance

NASDAQ RDWR traded down $1.11 during trading hours on Thursday, hitting $36.05. The company had a trading volume of 64,772 shares, compared to its average volume of 276,596. Radware Ltd. has a 1-year low of $21.68 and a 1-year high of $38.50. The company has a market cap of $1.52 billion, a PE ratio of 95.06 and a beta of 0.86. The business has a 50 day moving average of $29.46 and a 200-day moving average of $27.61.

Radware (NASDAQ:RDWR - Get Free Report) last posted its earnings results on Wednesday, October 28th. The information technology services provider reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. Radware had a return on equity of 7.47% and a net margin of 5.34%. The business had revenue of $84.36 million for the quarter, compared to analysts' expectations of $83.02 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RDWR. Jefferies Financial Group reissued a "hold" rating and issued a $40.00 price objective on shares of Radware in a report on Wednesday. Wall Street Zen raised Radware from a "hold" rating to a "buy" rating in a report on Tuesday, October 13th. Finally, Weiss Ratings raised Radware from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 13th. Three research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Radware has a consensus rating of "Hold" and a consensus target price of $40.00.

Institutional Investors Weigh In On Radware

Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in Radware during the second quarter worth $2,057,000. Hennion & Walsh Asset Management Inc. grew its holdings in Radware by 87.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 54,630 shares of the information technology services provider's stock valued at $1,686,000 after purchasing an additional 25,499 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Radware in the third quarter worth $639,000. Rice Hall James & Associates LLC grew its stake in Radware by 2.4% in the 1st quarter. Rice Hall James & Associates LLC now owns 683,263 shares of the information technology services provider's stock valued at $17,983,000 after buying an additional 16,204 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Radware by 17.3% in the 1st quarter. Lazard Asset Management LLC now owns 98,020 shares of the information technology services provider's stock worth $2,580,000 after acquiring an additional 14,464 shares during the period. Hedge funds and other institutional investors own 73.12% of the company's stock.

Radware Company Profile

Radware Ltd. NASDAQ: RDWR is a global provider of cybersecurity and application delivery solutions. The company helps organizations protect digital applications, networks and cloud environments from cyberattacks while maintaining the availability and performance of online services.

Its portfolio includes distributed denial-of-service (DDoS) protection, web application and API security, bot management, cloud security services, and network behavior analysis. Radware also offers application delivery controllers, load balancing and related traffic-management technologies designed to improve the reliability, scalability and performance of business-critical applications.

Founded in 1996, Radware serves enterprises, telecommunications providers, cloud service providers and other organizations worldwide through a combination of on-premises, cloud-based and hybrid solutions.

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