Radware (NASDAQ:RDWR) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Radware Ltd. (NASDAQ:RDWR)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Wall Street Analysts Forecast Growth

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

Radware Price Performance

The firm has a 50-day simple moving average of $27.48 and a 200 day simple moving average of $25.53. The firm has a market cap of $1.20 billion, a PE ratio of 66.28 and a beta of 0.85.

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

Radware declared that its board has initiated a stock repurchase program on Friday, February 13th that authorizes the company to repurchase $80.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 7.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Rivkah Goldriech sold 1,375 shares of Radware stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $29.50, for a total value of $40,562.50. Following the completion of the transaction, the insider owned 60,741 shares of the company’s stock, valued at $1,791,859.50. The trade was a 2.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, 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 SEC filing for this sale provides additional information. 21.58% of the stock is owned by insiders.

Institutional Investors Weigh In On Radware

Several large investors have recently bought and sold shares of the business. Artisan Partners Limited Partnership increased its holdings in 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 worth $82,920,000 after buying an additional 431,572 shares in the last quarter. Morgan Stanley increased its holdings 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 worth $63,108,000 after buying an additional 588,064 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Radware by 28.7% during 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 purchasing an additional 348,824 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Radware by 1.6% during 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 purchasing an additional 24,363 shares during the period. Finally, Rice Hall James & Associates LLC grew its stake 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 purchasing an additional 16,204 shares during the period. 73.12% of the stock is currently 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.