Mirae Asset Global Investments Co. Ltd. Buys New Holdings in Radware Ltd. $RDWR

Mirae Asset Global Investments Co. Ltd. bought a new position in Radware Ltd. (NASDAQ:RDWR) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,428 shares of the information technology services provider’s stock, valued at approximately $639,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rice Hall James & Associates LLC lifted its holdings in shares of Radware by 2.4% during the 1st 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. Lazard Asset Management LLC grew its holdings in shares of Radware by 17.3% in the first quarter. Lazard Asset Management LLC now owns 98,020 shares of the information technology services provider’s stock worth $2,580,000 after acquiring an additional 14,464 shares during the period. Swiss National Bank grew its holdings in shares of Radware by 3.0% in the first quarter. Swiss National Bank now owns 69,600 shares of the information technology services provider’s stock worth $1,832,000 after acquiring an additional 2,000 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Radware during the second quarter valued at $2,057,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in Radware by 87.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 54,630 shares of the information technology services provider’s stock valued at $1,686,000 after acquiring an additional 25,499 shares during the last quarter. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

Radware Stock Performance

Shares of RDWR stock opened at $29.84 on Monday. Radware Ltd. has a 12 month low of $21.68 and a 12 month high of $38.50. The stock has a market cap of $1.26 billion, a P/E ratio of 96.26 and a beta of 0.83. The company has a 50 day simple moving average of $30.16 and a two-hundred day simple moving average of $27.92.

Radware (NASDAQ:RDWR) last issued its quarterly earnings results on Wednesday, October 28th. The information technology services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. The business had revenue of $84.36 million for the quarter, compared to analysts’ expectations of $83.02 million. Radware had a net margin of 4.26% and a return on equity of 6.64%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 EPS.

Insider Transactions at Radware

In related news, Director Yair Tauman sold 1,919 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $36.05, for a total value of $69,179.95. Following the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $540,750. This trade represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gabriel Malka sold 16,461 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $34.23, for a total value of $563,460.03. Following the completion of the transaction, the chief operating officer directly owned 42,461 shares in the company, valued at approximately $1,453,440.03. This represents a 27.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 53,282 shares of company stock worth $1,817,581 in the last three months. Corporate insiders own 21.58% of the company’s stock.

Analyst Upgrades and Downgrades

RDWR has been the topic of a number of recent research reports. Weiss Ratings raised Radware from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Wall Street Zen upgraded Radware from a “hold” rating to a “buy” rating in a research note on Tuesday, October 13th. Finally, Jefferies Financial Group restated a “hold” rating and set a $40.00 price target on shares of Radware in a research note on Wednesday, October 28th. Three investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.00.

About Radware

Radware Ltd. (NASDAQ: RDWR) is a global provider of cybersecurity and application delivery solutions. The company helps organizations protect digital applications, networks and cloud environments from cyberattacks while maintaining the availability and performance of online services.

Its portfolio includes distributed denial-of-service (DDoS) protection, web application and API security, bot management, cloud security services, and network behavior analysis. Radware also offers application delivery controllers, load balancing and related traffic-management technologies designed to improve the reliability, scalability and performance of business-critical applications.

Founded in 1996, Radware serves enterprises, telecommunications providers, cloud service providers and other organizations worldwide through a combination of on-premises, cloud-based and hybrid solutions.