Radware (NASDAQ:RDWR) Trading Down 4% – Here’s What Happened

Radware Ltd. (NASDAQ:RDWR)’s share price fell 4% during trading on Friday . The stock traded as low as $21.62 and last traded at $21.62. 28,829 shares changed hands during trading, a decline of 90% from the average session volume of 286,862 shares. The stock had previously closed at $22.51.

Wall Street Analyst Weigh In

Several brokerages recently commented on RDWR. StockNews.com upgraded Radware from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Radware in a research note on Wednesday, July 31st. Finally, Barclays upped their price target on Radware from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday.

Radware Stock Performance

The firm has a market capitalization of $903.31 million, a price-to-earnings ratio of -74.59 and a beta of 0.97. The business has a 50 day moving average of $22.02 and a two-hundred day moving average of $20.06.

Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $0.08 EPS for the quarter. Radware had a negative net margin of 4.73% and a negative return on equity of 0.72%. The business had revenue of $67.28 million for the quarter, compared to analyst estimates of $66.10 million. On average, equities analysts predict that Radware Ltd. will post 0.16 EPS for the current fiscal year.

Institutional Trading of Radware

Hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in shares of Radware in the third quarter valued at approximately $51,000. BNP Paribas Financial Markets raised its position in shares of Radware by 239.5% in the first quarter. BNP Paribas Financial Markets now owns 6,434 shares of the information technology services provider’s stock valued at $120,000 after purchasing an additional 4,539 shares during the period. Point72 Asset Management L.P. purchased a new position in Radware during the second quarter valued at approximately $120,000. Van ECK Associates Corp grew its stake in Radware by 16.4% during the second quarter. Van ECK Associates Corp now owns 9,164 shares of the information technology services provider’s stock valued at $167,000 after acquiring an additional 1,291 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Radware during the second quarter valued at approximately $169,000. Institutional investors own 73.12% of the company’s stock.

About Radware

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.