Radware (NASDAQ:RDWR) Lowered to Hold Rating by Wall Street Zen

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

Radware Trading Down 4.6%

Shares of RDWR opened at $29.13 on Friday. The company’s fifty day simple moving average is $28.60 and its 200-day simple moving average is $27.81. The company has a market cap of $1.23 billion, a P/E ratio of 76.66 and a beta of 0.85. Radware has a twelve month low of $21.68 and a twelve month high of $32.79.

Radware (NASDAQ:RDWR) last released its quarterly earnings results on Tuesday, June 30th. The information technology services provider reported $0.30 EPS 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%.

Insider Activity at Radware

In other Radware news, CFO Guy Avidan purchased 2,000 shares of Radware stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of $25.21 per share, for a total transaction of $50,420.00. Following the completion of the acquisition, the chief financial officer owned 95,800 shares in the company, valued at $2,415,118. This represents a 2.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $195,000.00. Following the sale, the chief operating officer directly owned 47,922 shares of the company’s stock, valued at $1,437,660. This represents a 11.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 21.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Radware

Several hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in Radware in the second quarter worth $27,000. Parallel Advisors LLC boosted its stake in shares of Radware by 48.8% during the first quarter. Parallel Advisors LLC now owns 1,140 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 374 shares during the period. Capital Advisors Ltd. LLC purchased a new stake in shares of Radware during the first quarter valued at $79,000. Pacer Advisors Inc. boosted its stake in shares of Radware by 27.9% during the first quarter. Pacer Advisors Inc. now owns 5,409 shares of the information technology services provider’s stock valued at $142,000 after purchasing an additional 1,179 shares during the period. Finally, Legato Capital Management LLC grew its holdings in shares of Radware by 8.7% in the fourth 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 during the last quarter. Institutional investors own 73.12% of the company’s stock.

About Radware

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.