Insider Selling: Radware (NASDAQ:RDWR) Director Sells $69,179.95 in Stock

Radware Ltd. (NASDAQ:RDWR) Director Yair Tauman sold 1,919 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $36.05, for a total value of $69,179.95. Following the transaction, the director owned 15,000 shares in the company, valued at $540,750. The trade was a 11.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Radware Stock Performance

Shares of Radware stock opened at $33.00 on Thursday. The firm has a 50-day moving average of $30.12 and a 200-day moving average of $27.86. The stock has a market cap of $1.39 billion, a PE ratio of 106.45 and a beta of 0.84. Radware Ltd. has a 52-week low of $21.68 and a 52-week high of $38.50.

Radware (NASDAQ:RDWR) last released its quarterly 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 net margin of 4.26% and a return on equity of 6.64%. The business had revenue of $84.36 million for the quarter, compared to analyst estimates of $83.02 million. During the same period last year, the firm earned $0.28 earnings per share. Radware’s revenue for the quarter was up 12.0% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RDWR. Public Employees Retirement System of Ohio acquired a new stake in Radware in the second quarter valued at approximately $2,057,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of 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 worth $1,686,000 after buying an additional 25,499 shares during the last quarter. State of Wyoming grew its stake in shares of Radware by 78.1% during the third quarter. State of Wyoming now owns 17,275 shares of the information technology services provider’s stock worth $515,000 after buying an additional 7,577 shares during the last quarter. Eagle Harbor Asset Management Inc. ADV increased its holdings in shares of Radware by 10.5% during the third 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, Integrated Wealth Concepts LLC acquired a new position in shares of Radware during the second quarter worth $27,000. Institutional investors own 73.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on RDWR. Weiss Ratings raised shares of Radware from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Wall Street Zen upgraded Radware from a “hold” rating to a “buy” rating in a research note on Tuesday, October 13th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $40.00 price target on shares of Radware in a research report on Wednesday, October 28th. Three investment analysts have rated the stock with a Hold rating. According to MarketBeat, Radware has an average rating of “Hold” and an average price target of $40.00.

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.