Mirae Asset Global Investments Co. Ltd. Buys 2,960 Shares of Radware Ltd. (NASDAQ:RDWR)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Radware Ltd. (NASDAQ:RDWR) by 18.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,941 shares of the information technology services provider’s stock after acquiring an additional 2,960 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Radware were worth $416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Invesco Ltd. increased its position in shares of Radware by 2.4% during the fourth quarter. Invesco Ltd. now owns 36,094 shares of the information technology services provider’s stock valued at $813,000 after purchasing an additional 855 shares during the period. Geode Capital Management LLC grew its holdings in shares of Radware by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 79,686 shares of the information technology services provider’s stock worth $1,795,000 after purchasing an additional 902 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Radware by 10.1% in the fourth quarter. Bank of Montreal Can now owns 11,007 shares of the information technology services provider’s stock valued at $248,000 after purchasing an additional 1,007 shares in the last quarter. Deutsche Bank AG raised its position in shares of Radware by 5.6% during the fourth quarter. Deutsche Bank AG now owns 19,689 shares of the information technology services provider’s stock worth $444,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Inceptionr LLC boosted its stake in shares of Radware by 8.6% in the 4th quarter. Inceptionr LLC now owns 14,737 shares of the information technology services provider’s stock valued at $332,000 after purchasing an additional 1,161 shares during the last quarter. Institutional investors and hedge funds own 73.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reduced their price objective on shares of Radware from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Monday, March 31st.

Radware Stock Up 2.5%

Shares of NASDAQ:RDWR opened at $30.43 on Friday. The company’s fifty day simple moving average is $25.19 and its 200 day simple moving average is $23.16. Radware Ltd. has a 12 month low of $17.36 and a 12 month high of $30.57. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 112.69 and a beta of 0.99.

Radware (NASDAQ:RDWR) last posted its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Radware had a net margin of 4.12% and a return on equity of 5.39%. The company had revenue of $72.08 million during the quarter, compared to the consensus estimate of $70.56 million. During the same period in the prior year, the business posted $0.16 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts expect that Radware Ltd. will post 0.28 earnings per share for the current fiscal year.

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.