Millennium Management LLC Has $13.83 Million Stake in Radware Ltd. (NASDAQ:RDWR)

Millennium Management LLC grew its holdings in Radware Ltd. (NASDAQ:RDWR) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 613,795 shares of the information technology services provider’s stock after buying an additional 75,474 shares during the period. Millennium Management LLC owned 1.46% of Radware worth $13,829,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its holdings in Radware by 127.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 126,216 shares of the information technology services provider’s stock worth $2,844,000 after purchasing an additional 70,703 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Radware by 424.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 51,904 shares of the information technology services provider’s stock worth $1,169,000 after buying an additional 42,009 shares during the last quarter. Barclays PLC lifted its position in shares of Radware by 179.9% during the 4th quarter. Barclays PLC now owns 44,072 shares of the information technology services provider’s stock worth $992,000 after buying an additional 28,329 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Radware by 6.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 438,003 shares of the information technology services provider’s stock worth $9,868,000 after buying an additional 27,804 shares during the last quarter. Finally, Renaissance Group LLC acquired a new position in Radware in the 4th quarter worth about $2,240,000. 73.12% of the stock is owned by institutional investors and hedge funds.

Radware Stock Performance

Shares of NASDAQ:RDWR opened at $23.63 on Friday. The business’s 50 day simple moving average is $22.18 and its two-hundred day simple moving average is $22.49. The firm has a market cap of $1.01 billion, a P/E ratio of 168.80 and a beta of 0.95. Radware Ltd. has a 52-week low of $17.01 and a 52-week high of $25.00.

Radware (NASDAQ:RDWR) last posted its earnings results on Wednesday, May 7th. The information technology services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Radware had a return on equity of 3.81% and a net margin of 2.20%. The company had revenue of $72.08 million for the quarter, compared to analyst estimates of $70.56 million. During the same quarter last year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts forecast that Radware Ltd. will post 0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Radware in a report on Friday, February 14th. Jefferies Financial Group cut their target price on Radware from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Monday, March 31st.

Radware Company Profile

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.