Radware (NASDAQ:RDWR) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Radware (NASDAQ:RDWR) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Radware Stock Performance

Shares of Radware stock opened at $29.50 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of 77.63 and a beta of 0.85. Radware has a 52-week low of $21.68 and a 52-week high of $32.79. The stock’s 50-day simple moving average is $28.57 and its 200 day simple moving average is $27.88.

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

Insiders Place Their Bets

In related news, CFO Guy Avidan acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of $25.21 per share, for a total transaction of $50,420.00. Following the purchase, the chief financial officer owned 95,800 shares in the company, valued at $2,415,118. This trade represents a 2.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Gabriel Malka sold 6,500 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $30.00, for a total value of $195,000.00. Following the sale, the chief operating officer directly owned 47,922 shares in the company, valued at $1,437,660. This trade represents a 11.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 21.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RDWR. Public Employees Retirement System of Ohio bought a new position in shares of Radware in the second quarter valued at approximately $2,057,000. Rice Hall James & Associates LLC increased its holdings in Radware by 3.4% during the 4th quarter. Rice Hall James & Associates LLC now owns 667,059 shares of the information technology services provider’s stock worth $16,069,000 after acquiring an additional 21,928 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Radware by 87.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 54,630 shares of the information technology services provider’s stock worth $1,686,000 after acquiring an additional 25,499 shares during the period. Handelsbanken Fonder AB lifted its stake in Radware by 3.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 19,500 shares of the information technology services provider’s stock worth $602,000 after purchasing an additional 700 shares in the last quarter. Finally, Legato Capital Management LLC lifted its stake in Radware by 8.7% in the 4th quarter. Legato Capital Management LLC now owns 8,403 shares of the information technology services provider’s stock worth $202,000 after purchasing an additional 672 shares in the last quarter. Hedge funds and other institutional investors own 73.12% of the company’s stock.

Radware Company Profile

Radware Ltd. is a global provider of application delivery and cybersecurity solutions. The company helps enterprises, telecommunications carriers, cloud service providers and other organizations protect digital assets, maintain application availability and improve the performance of business-critical applications across on-premises, hybrid and cloud environments.

Radware’s portfolio includes distributed denial-of-service (DDoS) protection, web application and API security, bot management, cloud security services, network and application performance monitoring, and application delivery controllers.