Radware (NASDAQ:RDWR) Reaches New 12-Month High – Time to Buy?

Radware Ltd. (NASDAQ:RDWR)’s share price hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $33.20 and last traded at $33.1450, with a volume of 53,477 shares. The stock had previously closed at $32.30.

Analyst Upgrades and Downgrades

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

Radware Stock Performance

The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 89.79 and a beta of 0.86. The company has a 50-day moving average price of $29.15 and a 200-day moving average price of $27.49.

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. Radware had a return on equity of 7.47% and a net margin of 5.34%. The business had revenue of $82.28 million for the quarter.

Insider Buying and Selling

In related news, CFO Guy Avidan purchased 2,000 shares of the company’s stock in a transaction 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 completion of the purchase, the chief financial officer directly owned 95,800 shares of the company’s stock, valued at approximately $2,415,118. This trade represents a 2.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Gabriel Malka sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $195,000.00. Following the sale, the chief operating officer directly owned 47,922 shares in the company, valued at approximately $1,437,660. The trade was a 11.94% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 21.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in Radware during the 2nd quarter worth $2,057,000. Hennion & Walsh Asset Management Inc. boosted its stake in Radware by 87.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 54,630 shares of the information technology services provider’s stock valued at $1,686,000 after acquiring an additional 25,499 shares in the last quarter. Rice Hall James & Associates LLC boosted its stake in Radware by 2.4% in the first quarter. Rice Hall James & Associates LLC now owns 683,263 shares of the information technology services provider’s stock valued at $17,983,000 after acquiring an additional 16,204 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Radware by 17.3% in the first quarter. Lazard Asset Management LLC now owns 98,020 shares of the information technology services provider’s stock valued at $2,580,000 after acquiring an additional 14,464 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Radware by 3.0% during the first quarter. Swiss National Bank now owns 69,600 shares of the information technology services provider’s stock worth $1,832,000 after purchasing an additional 2,000 shares during the last quarter. 73.12% of the stock is owned by hedge funds and other institutional investors.

About Radware

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.