Radware (NASDAQ:RDWR) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Radware Ltd. (NASDAQ:RDWR)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.44 and traded as high as $28.57. Radware shares last traded at $28.45, with a volume of 124,502 shares traded.

Analyst Ratings Changes

RDWR has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Radware in a report on Friday, March 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Radware in a report on Thursday, May 7th. Finally, Wall Street Zen raised Radware from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.00.

Radware Stock Performance

The stock’s 50-day moving average is $27.37 and its 200 day moving average is $25.44. The firm has a market cap of $1.20 billion, a P/E ratio of 66.16 and a beta of 0.85.

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

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

Insider Activity

In other Radware news, COO Gabriel Malka sold 3,111 shares of Radware stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $29.00, for a total value of $90,219.00. Following the sale, the chief operating officer owned 61,422 shares of the company’s stock, valued at $1,781,238. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rivkah Goldriech sold 1,375 shares of Radware stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $29.50, for a total value of $40,562.50. Following the completion of the sale, the insider directly owned 60,741 shares in the company, valued at $1,791,859.50. This represents a 2.21% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 21.58% of the company’s stock.

Institutional Trading of Radware

Several hedge funds and other institutional investors have recently modified their holdings of the company. Artisan Partners Limited Partnership raised 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 holdings 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 acquiring an additional 588,064 shares in the last quarter. First Trust Advisors LP grew 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 acquiring an additional 348,824 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Radware by 1.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,538,854 shares of the information technology services provider’s stock valued at $40,769,000 after acquiring an additional 24,363 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its holdings in shares of Radware by 2.4% in 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 acquiring an additional 16,204 shares in the last quarter. Institutional investors and hedge funds 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.