Morgan Stanley reduced its position in shares of Radware Ltd. (NASDAQ:RDWR) by 40.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,243,035 shares of the information technology services provider’s stock after selling 848,702 shares during the period. Morgan Stanley owned 2.88% of Radware worth $20,087,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Radware by 130.8% in the first quarter. Wellington Management Group LLP now owns 331,979 shares of the information technology services provider’s stock worth $5,365,000 after buying an additional 188,139 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Radware by 24.1% in the first quarter. JPMorgan Chase & Co. now owns 41,508 shares of the information technology services provider’s stock worth $671,000 after buying an additional 8,073 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in Radware during the first quarter worth $3,162,000. Penserra Capital Management LLC boosted its stake in Radware by 4.8% in the first quarter. Penserra Capital Management LLC now owns 1,777,524 shares of the information technology services provider’s stock worth $28,724,000 after buying an additional 81,863 shares during the last quarter. Finally, Oxford Asset Management bought a new stake in Radware during the first quarter worth $270,000. 63.40% of the stock is currently owned by institutional investors.
Radware Ltd. (NASDAQ:RDWR) traded down 0.83% during midday trading on Friday, reaching $17.86. The company’s stock had a trading volume of 132,974 shares. The stock’s 50-day moving average price is $17.82 and its 200-day moving average price is $16.34. Radware Ltd. has a 12 month low of $11.46 and a 12 month high of $18.33. The firm’s market capitalization is $772.00 million.
Radware (NASDAQ:RDWR) last posted its quarterly earnings data on Tuesday, April 25th. The information technology services provider reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Radware had a negative net margin of 5.07% and a negative return on equity of 1.41%. The business had revenue of $48.90 million for the quarter, compared to analysts’ expectations of $47.87 million. During the same period in the previous year, the firm posted $0.05 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. Analysts predict that Radware Ltd. will post $0.16 EPS for the current year.
Radware announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 25th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the information technology services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts have weighed in on RDWR shares. Zacks Investment Research cut Radware from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Oppenheimer Holdings, Inc. set a $17.00 price target on Radware and gave the company a “buy” rating in a report on Tuesday, April 25th. Dougherty & Co raised Radware from a “neutral” rating to a “buy” rating and raised their price target for the company from $16.50 to $18.50 in a report on Tuesday, April 25th. Needham & Company LLC lifted their price objective on Radware from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Finally, Jefferies Group LLC lifted their price objective on Radware from $18.50 to $20.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $17.81.
Radware Ltd. is a provider of cyber security and application delivery solutions. The Company’s solutions incorporate Distributed Denial of Service protection, Web application firewall (WAF) and Application Delivery Controllers (ADC) technologies to enable its customers to provide cyber-attack mitigation solutions for a range of applications.
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