Renaissance Technologies LLC Sells 237,795 Shares of Radware Ltd. $RDWR

Renaissance Technologies LLC lessened its stake in Radware Ltd. (NASDAQ:RDWR) by 14.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,388,231 shares of the information technology services provider’s stock after selling 237,795 shares during the quarter. Renaissance Technologies LLC’s holdings in Radware were worth $36,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RDWR. Morgan Stanley boosted its position in 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 buying an additional 588,064 shares during the period. Defiance ETFs LLC purchased a new position in shares of Radware during the fourth quarter worth approximately $9,152,000. First Trust Advisors LP increased its position in shares of Radware by 28.7% during the fourth quarter. First Trust Advisors LP now owns 1,562,396 shares of the information technology services provider’s stock worth $37,638,000 after acquiring an additional 348,824 shares during the period. Deutsche Bank AG raised its stake in shares of Radware by 908.4% during the fourth quarter. Deutsche Bank AG now owns 302,478 shares of the information technology services provider’s stock valued at $7,287,000 after acquiring an additional 272,481 shares in the last quarter. Finally, Man Group plc raised its stake in shares of Radware by 59.5% during the third quarter. Man Group plc now owns 432,056 shares of the information technology services provider’s stock valued at $11,445,000 after acquiring an additional 161,159 shares in the last quarter. Institutional investors own 73.12% of the company’s stock.

Insider Buying and Selling

In related news, COO Gabriel Malka sold 3,111 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $29.00, for a total value of $90,219.00. Following the completion of the transaction, the chief operating officer owned 61,422 shares of the company’s stock, valued at $1,781,238. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rivkah Goldriech sold 1,375 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $29.50, for a total value of $40,562.50. Following the sale, the insider owned 60,741 shares of the company’s stock, valued at approximately $1,791,859.50. This represents a 2.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,236 shares of company stock valued at $154,782 in the last three months. 21.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Radware in a research note on Thursday, May 7th. Wall Street Zen raised Radware from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.00.

Radware Stock Performance

NASDAQ RDWR opened at $28.21 on Wednesday. Radware Ltd. has a one year low of $21.68 and a one year high of $32.79. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 65.61 and a beta of 0.84. The company’s 50-day simple moving average is $29.44 and its two-hundred day simple moving average is $26.91.

Radware (NASDAQ:RDWR) last announced its quarterly 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 during the quarter.

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.