Robertson Stephens Wealth Management LLC Purchases Shares of 29,430 Radware Ltd. $RDWR

Robertson Stephens Wealth Management LLC purchased a new stake in Radware Ltd. (NASDAQ:RDWR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,430 shares of the information technology services provider’s stock, valued at approximately $709,000. Robertson Stephens Wealth Management LLC owned 0.07% of Radware as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in Radware by 3,178.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,213 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 1,176 shares during the period. Pacer Advisors Inc. increased its position in Radware by 200.9% in the 3rd quarter. Pacer Advisors Inc. now owns 2,341 shares of the information technology services provider’s stock valued at $62,000 after acquiring an additional 1,563 shares during the period. Inceptionr LLC acquired a new position in Radware in the 3rd quarter valued at approximately $212,000. Kestra Private Wealth Services LLC acquired a new position in Radware in the 3rd quarter valued at approximately $237,000. Finally, Aquatic Capital Management LLC acquired a new position in Radware in the 3rd quarter valued at approximately $290,000. 73.12% of the stock is currently owned by institutional investors and hedge funds.

Radware Stock Performance

NASDAQ:RDWR opened at $26.73 on Monday. The firm’s fifty day moving average is $25.40 and its 200-day moving average is $24.72. Radware Ltd. has a 52 week low of $21.29 and a 52 week high of $31.57. The firm has a market cap of $1.12 billion, a P/E ratio of 59.40 and a beta of 0.81.

Radware (NASDAQ:RDWR) last posted its quarterly earnings data on Wednesday, February 11th. The information technology services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Radware had a net margin of 6.71% and a return on equity of 7.21%. The company had revenue of $80.25 million for the quarter, compared to analyst estimates of $78.65 million. During the same period in the prior year, the firm posted $0.27 EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis.

Radware announced that its board has approved a share buyback plan on Friday, February 13th that permits the company to repurchase $80.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on RDWR. Weiss Ratings restated a “sell (d+)” rating on shares of Radware in a research report on Friday, March 27th. Wall Street Zen raised shares of Radware from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Radware currently has a consensus rating of “Hold” and an average price target of $30.00.

Radware Company Profile

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.