Radware (NASDAQ:RDWR) Insider Rivkah Goldriech Sells 1,375 Shares of Stock

Radware Ltd. (NASDAQ:RDWR) insider Rivkah Goldriech sold 1,375 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $29.50, for a total transaction of $40,562.50. Following the completion of the transaction, the insider owned 60,741 shares in the company, valued at approximately $1,791,859.50. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Radware Stock Down 3.0%

Shares of RDWR opened at $29.01 on Thursday. Radware Ltd. has a fifty-two week low of $21.68 and a fifty-two week high of $31.57. The firm’s 50 day moving average price is $26.75 and its 200 day moving average price is $25.05. The company has a market cap of $1.22 billion, a P/E ratio of 67.47 and a beta of 0.81.

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

Radware announced that its Board of Directors has authorized a stock repurchase program on Friday, February 13th that allows the company to buyback $80.00 million in outstanding shares. This buyback authorization allows the information technology services provider to purchase up to 7.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

RDWR has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Radware from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Needham & Company LLC reissued a “hold” rating on shares of Radware in a research report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Radware in a research report on Friday, March 27th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Institutional Investors Weigh In On Radware

A number of large investors have recently modified their holdings of RDWR. Morgan Stanley increased its position in shares of Radware by 28.9% in the 4th quarter. Morgan Stanley now owns 2,619,687 shares of the information technology services provider’s stock valued at $63,108,000 after purchasing an additional 588,064 shares during the last quarter. Artisan Partners Limited Partnership increased its position 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 last quarter. Defiance ETFs LLC purchased a new stake in shares of Radware in the 4th quarter valued at approximately $9,152,000. First Trust Advisors LP boosted its holdings in shares of Radware by 28.7% in the 4th quarter. First Trust Advisors LP now owns 1,562,396 shares of the information technology services provider’s stock valued at $37,638,000 after buying an additional 348,824 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Radware by 908.4% in the 4th quarter. Deutsche Bank AG now owns 302,478 shares of the information technology services provider’s stock valued at $7,287,000 after buying an additional 272,481 shares during the last quarter. 73.12% of the stock is owned by hedge funds and other institutional investors.

About Radware

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.