IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Stake in Radware Ltd. (NASDAQ:RDWR)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its position in Radware Ltd. (NASDAQ:RDWR) by 3.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 51,464 shares of the information technology services provider’s stock after selling 1,584 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.12% of Radware worth $1,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd acquired a new stake in Radware in the fourth quarter valued at about $28,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Radware in the 4th quarter valued at approximately $149,000. Balyasny Asset Management L.P. purchased a new stake in shares of Radware in the fourth quarter valued at approximately $227,000. Graham Capital Management L.P. acquired a new position in Radware during the fourth quarter worth $236,000. Finally, Two Sigma Securities LLC grew its holdings in Radware by 16.6% during the fourth quarter. Two Sigma Securities LLC now owns 10,867 shares of the information technology services provider’s stock worth $245,000 after acquiring an additional 1,545 shares during the period. Hedge funds and other institutional investors own 73.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays reaffirmed an “overweight” rating and set a $35.00 price target (up from $30.00) on shares of Radware in a research note on Thursday. Wolfe Research started coverage on shares of Radware in a research report on Tuesday, July 8th. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group lifted their price target on shares of Radware from $25.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Radware Stock Up 0.7%

NASDAQ:RDWR opened at $25.51 on Tuesday. Radware Ltd. has a 52-week low of $18.46 and a 52-week high of $31.57. The stock has a fifty day simple moving average of $27.30 and a 200-day simple moving average of $24.08. The company has a market capitalization of $1.09 billion, a PE ratio of 79.72 and a beta of 0.97.

Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, July 30th. The information technology services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. Radware had a net margin of 4.90% and a return on equity of 6.11%. The company had revenue of $74.22 million during the quarter, compared to analysts’ expectations of $73.42 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Radware Ltd. will post 0.28 earnings per share for the current year.

About Radware

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers worldwide. The company operates in two segments, Radware’s Core Business and The Hawks’ Business. It offers DefensePro provides automated DDoS protection; Radware Kubernetes, a web application firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.