JPMorgan Chase & Co. Sells 59,333 Shares of Radware Ltd. $RDWR

JPMorgan Chase & Co. cut its position in Radware Ltd. (NASDAQ:RDWR) by 22.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 203,586 shares of the information technology services provider’s stock after selling 59,333 shares during the quarter. JPMorgan Chase & Co.’s holdings in Radware were worth $5,393,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RDWR. Artisan Partners Limited Partnership increased its holdings in shares of Radware by 16.0% during the third quarter. Artisan Partners Limited Partnership now owns 3,130,252 shares of the information technology services provider’s stock worth $82,920,000 after buying an additional 431,572 shares in the last quarter. Man Group plc boosted its holdings in shares of Radware by 59.5% in the 3rd quarter. Man Group plc now owns 432,056 shares of the information technology services provider’s stock worth $11,445,000 after acquiring an additional 161,159 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Radware by 95.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 253,044 shares of the information technology services provider’s stock worth $6,703,000 after acquiring an additional 123,854 shares during the last quarter. Bank of America Corp DE increased its holdings in Radware by 41.5% during the 3rd quarter. Bank of America Corp DE now owns 259,389 shares of the information technology services provider’s stock valued at $6,871,000 after purchasing an additional 76,111 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Radware by 29.9% during the 3rd quarter. Millennium Management LLC now owns 295,353 shares of the information technology services provider’s stock valued at $7,824,000 after purchasing an additional 67,936 shares in the last quarter. 73.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RDWR shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Radware in a research note on Friday, March 27th. Wall Street Zen lowered Radware from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Jefferies Financial Group set a $25.00 price target on shares of Radware in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.00.

Radware Price Performance

Shares of Radware stock opened at $27.02 on Thursday. The firm has a 50 day simple moving average of $25.16 and a 200 day simple moving average of $24.83. Radware Ltd. has a fifty-two week low of $18.46 and a fifty-two week high of $31.57. The firm has a market cap of $1.15 billion, a P/E ratio of 60.05 and a beta of 0.87.

Radware (NASDAQ:RDWR) last posted its quarterly earnings data on Wednesday, February 11th. The information technology services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $80.25 million for the quarter, compared to the consensus estimate of $78.65 million. Radware had a return on equity of 7.21% and a net margin of 6.71%.The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. On average, sell-side analysts expect that Radware Ltd. will post 0.28 EPS for the current year.

Radware declared that its Board of Directors has initiated a stock repurchase plan on Friday, February 13th that permits the company to buyback $80.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 7.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.