Radware (NASDAQ:RDWR) Sets New 52-Week High - Here's Why

Key Points

• Radware shares hit a new 52-week high during Thursday trading, reaching $32.18 before closing around $32.13, up 5.7% on the day.
• Recent analyst actions were mixed: Wall Street Zen upgraded the stock to buy, while Weiss Ratings reiterated a sell and Needham kept a hold; the overall consensus remains hold with a $30 target.
• The company reported quarterly EPS of $0.30 on revenue of $79.81 million, while insiders recently sold shares and institutional investors still own about 73.12% of the stock.

Radware Ltd. (NASDAQ:RDWR - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.18 and last traded at $32.13, with a volume of 237622 shares traded. The stock had previously closed at $30.41.

Analysts Set New Price Targets

Several research firms have recently commented on RDWR. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Radware in a report on Friday, March 27th. Wall Street Zen upgraded Radware from a "hold" rating to a "buy" rating in a research report on Saturday, April 4th. Finally, Needham & Company LLC restated a "hold" rating on shares of Radware in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $30.00.

Radware Trading Up 5.7%

The company's 50-day moving average is $28.63 and its two-hundred day moving average is $26.32. The stock has a market capitalization of $1.35 billion, a P/E ratio of 74.72 and a beta of 0.84.

Radware (NASDAQ:RDWR - Get Free Report) last posted its 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 firm had revenue of $79.81 million during the quarter.

Insider Transactions at Radware

In other news, 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 completion of the sale, the insider directly owned 60,741 shares of the company's stock, valued at approximately $1,791,859.50. This represents a 2.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Gabriel Malka sold 3,111 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were 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 of the company's stock, valued at $1,781,238. This trade represents a 4.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 21.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Radware

Institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings in shares of Radware by 3,178.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,213 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 1,176 shares during the last quarter. Parallel Advisors LLC raised its holdings in Radware by 48.8% during the 1st quarter. Parallel Advisors LLC now owns 1,140 shares of the information technology services provider's stock worth $30,000 after buying an additional 374 shares during the period. Simplex Trading LLC lifted 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 buying an additional 524 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake 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 buying an additional 550 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in shares of Radware in the fourth quarter worth about $49,000. Institutional investors and hedge funds own 73.12% of the company's stock.

Radware Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.