Radware (NASDAQ:RDWR) Shares Pass Above 200 Day Moving Average – Should You Sell?

Radware Ltd. (NASDAQ:RDWR) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.93 and traded as high as $29.98. Radware shares last traded at $29.53, with a volume of 220,486 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Radware in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Radware in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Radware from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.00.

Radware Trading Up 2.7%

The company has a market cap of $1.24 billion, a PE ratio of 68.68 and a beta of 0.81. The business has a fifty day moving average of $26.50 and a 200-day moving average of $24.93.

Radware (NASDAQ:RDWR) last released its quarterly earnings data on Tuesday, March 31st. The information technology services provider reported $0.30 earnings per share for the quarter. Radware had a return on equity of 7.69% and a net margin of 6.28%.The business had revenue of $79.81 million during the quarter.

Radware declared that its Board of Directors has initiated a share buyback 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 purchase up to 7.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Radware

In other news, COO Gabriel Malka sold 3,111 shares of Radware stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $29.00, for a total transaction of $90,219.00. Following the sale, the chief operating officer owned 61,422 shares of the company’s stock, valued at approximately $1,781,238. The trade was a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership lifted its stake in shares of Radware by 16.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,130,252 shares of the information technology services provider’s stock valued at $82,920,000 after purchasing an additional 431,572 shares during the period. Morgan Stanley grew its stake in Radware by 28.9% in the fourth quarter. Morgan Stanley now owns 2,619,687 shares of the information technology services provider’s stock worth $63,108,000 after purchasing an additional 588,064 shares during the period. First Trust Advisors LP grew its stake in Radware by 28.7% in the fourth quarter. First Trust Advisors LP now owns 1,562,396 shares of the information technology services provider’s stock worth $37,638,000 after purchasing an additional 348,824 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Radware by 1.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,538,854 shares of the information technology services provider’s stock worth $40,769,000 after purchasing an additional 24,363 shares in the last quarter. Finally, Rice Hall James & Associates LLC lifted its position in Radware by 2.4% during 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 buying an additional 16,204 shares during the period. Hedge funds and other institutional investors own 73.12% of the company’s stock.

Radware Company 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.