Radware (NASDAQ:RDWR) Shares Break Above 200-Day Moving Average – What’s Next?

Radware Ltd. (NASDAQ:RDWR)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $28.48 and traded as high as $29.41. Radware shares last traded at $29.33, with a volume of 190,471 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Weiss Ratings upgraded Radware from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 13th. Wall Street Zen upgraded Radware from a “hold” rating to a “buy” rating in a report on Tuesday, October 13th. Two analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.00.

Radware Price Performance

The stock’s fifty day moving average price is $29.03 and its 200 day moving average price is $28.52. The stock has a market capitalization of $1.25 billion, a P/E ratio of 48.06 and a beta of 0.86.

Radware (NASDAQ:RDWR) last posted its quarterly earnings results on Tuesday, June 30th. The information technology services provider reported $0.30 EPS for the quarter. Radware had a net margin of 5.34% and a return on equity of 7.47%. The company had revenue of $82.28 million for the quarter.

Insider Buying and Selling

In other news, CFO Guy Avidan purchased 2,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $25.21 per share, for a total transaction of $50,420.00. Following the completion of the acquisition, the chief financial officer owned 95,800 shares of the company’s stock, valued at approximately $2,415,118. This trade represents a 2.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Gabriel Malka sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $30.00, for a total value of $195,000.00. Following the completion of the sale, the chief operating officer owned 47,922 shares of the company’s stock, valued at $1,437,660. The trade was a 11.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 21.58% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Radware during the 2nd quarter valued at $27,000. Parallel Advisors LLC lifted its holdings in shares of Radware by 48.8% in 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. Pacer Advisors Inc. grew its position in shares of Radware by 27.9% during the 1st quarter. Pacer Advisors Inc. now owns 5,409 shares of the information technology services provider’s stock worth $142,000 after buying an additional 1,179 shares in the last quarter. Eagle Harbor Asset Management Inc. ADV grew its position in shares of Radware by 10.5% during the 3rd quarter. Eagle Harbor Asset Management Inc. ADV now owns 9,729 shares of the information technology services provider’s stock worth $290,000 after buying an additional 921 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Radware by 3.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 19,500 shares of the information technology services provider’s stock worth $602,000 after buying an additional 700 shares in the last quarter. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

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.