Radware (NASDAQ:RDWR) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Radware (NASDAQ:RDWR) from a buy rating to a hold rating in a report issued on Saturday morning.

RDWR has been the subject of several other reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Radware in a research report on Monday, December 29th. Jefferies Financial Group set a $25.00 price target on shares of Radware in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.00.

Radware Price Performance

Radware stock opened at $24.15 on Friday. The stock’s 50 day moving average is $23.96 and its 200 day moving average is $25.05. Radware has a one year low of $18.46 and a one year high of $31.57. The firm has a market cap of $1.03 billion, a P/E ratio of 63.55 and a beta of 0.94.

Institutional Trading of Radware

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in Radware by 14.1% in the second quarter. Public Employees Retirement System of Ohio now owns 59,166 shares of the information technology services provider’s stock worth $1,742,000 after acquiring an additional 7,309 shares in the last quarter. KLP Kapitalforvaltning AS raised its position in shares of Radware by 172.7% during the second quarter. KLP Kapitalforvaltning AS now owns 18,000 shares of the information technology services provider’s stock worth $530,000 after purchasing an additional 11,400 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Radware by 19.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 57,361 shares of the information technology services provider’s stock worth $1,689,000 after purchasing an additional 9,241 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Radware in the 2nd quarter worth $84,960,000. Finally, Acadian Asset Management LLC grew its position in Radware by 3.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,715,089 shares of the information technology services provider’s stock valued at $50,454,000 after purchasing an additional 64,298 shares during the period. 73.12% of the stock is owned by 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.