GSA Capital Partners LLP Reduces Position in Radware Ltd. $RDWR

GSA Capital Partners LLP trimmed its stake in Radware Ltd. (NASDAQ:RDWR) by 47.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,129 shares of the information technology services provider’s stock after selling 28,649 shares during the period. GSA Capital Partners LLP’s holdings in Radware were worth $825,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its position in shares of Radware by 200.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,341 shares of the information technology services provider’s stock valued at $62,000 after buying an additional 1,563 shares in the last quarter. Vident Advisory LLC bought a new position in Radware in the 2nd quarter worth approximately $485,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Radware by 36.1% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,618 shares of the information technology services provider’s stock valued at $519,000 after buying an additional 4,677 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Radware by 49.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,569 shares of the information technology services provider’s stock valued at $651,000 after buying an additional 8,080 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Radware by 23.8% in the second quarter. Tidal Investments LLC now owns 30,141 shares of the information technology services provider’s stock worth $887,000 after buying an additional 5,803 shares in the last quarter. 73.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RDWR has been the topic of a number of research reports. Wall Street Zen downgraded shares of Radware from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Radware in a research report on Monday, December 29th. Finally, Jefferies Financial Group set a $25.00 price objective on Radware in a research report on Tuesday, December 16th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Radware has a consensus rating of “Hold” and an average price target of $30.00.

Radware Price Performance

RDWR stock opened at $24.21 on Friday. The firm’s 50-day moving average is $24.68 and its 200 day moving average is $24.85. Radware Ltd. has a 12 month low of $18.46 and a 12 month high of $31.57. The company has a market capitalization of $1.03 billion, a PE ratio of 53.80 and a beta of 0.95.

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

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

Radware 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.