Renaissance Group LLC Trims Stock Position in Radware Ltd. $RDWR

Renaissance Group LLC decreased its holdings in Radware Ltd. (NASDAQ:RDWR) by 44.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,581 shares of the information technology services provider’s stock after selling 33,176 shares during the period. Renaissance Group LLC’s holdings in Radware were worth $1,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Artisan Partners Limited Partnership raised its stake in Radware by 26.0% during the second quarter. Artisan Partners Limited Partnership now owns 2,698,680 shares of the information technology services provider’s stock worth $79,449,000 after purchasing an additional 556,551 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Radware during the 2nd quarter valued at $84,960,000. KLP Kapitalforvaltning AS increased its holdings in shares of Radware by 172.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,000 shares of the information technology services provider’s stock worth $530,000 after buying an additional 11,400 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Radware by 27.2% in the 3rd quarter. New York State Common Retirement Fund now owns 274,362 shares of the information technology services provider’s stock worth $7,268,000 after buying an additional 58,730 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Radware by 3.9% in the second quarter. Acadian Asset Management LLC now owns 1,715,089 shares of the information technology services provider’s stock valued at $50,454,000 after acquiring an additional 64,298 shares during the last quarter. Institutional investors and hedge funds own 73.12% of the company’s stock.

Radware Price Performance

Shares of RDWR opened at $25.03 on Friday. Radware Ltd. has a 12 month low of $18.46 and a 12 month high of $31.57. The stock’s 50-day moving average is $24.14 and its two-hundred day moving average is $24.90. The stock has a market cap of $1.07 billion, a PE ratio of 65.87 and a beta of 0.95.

Analyst Upgrades and Downgrades

RDWR has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Radware in a research note on Monday, December 29th. Wall Street Zen cut Radware from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Jefferies Financial Group set a $25.00 target price on shares of Radware in a research report on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.00.

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.