Envestnet Asset Management Inc. Sells 3,784 Shares of Radware Ltd. (NASDAQ:RDWR)

Envestnet Asset Management Inc. trimmed its holdings in shares of Radware Ltd. (NASDAQ:RDWR) by 7.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,120 shares of the information technology services provider’s stock after selling 3,784 shares during the period. Envestnet Asset Management Inc. owned about 0.11% of Radware worth $1,040,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cooper Creek Partners Management LLC grew its holdings in Radware by 264.3% during the 4th quarter. Cooper Creek Partners Management LLC now owns 956,764 shares of the information technology services provider’s stock valued at $21,556,000 after buying an additional 694,112 shares in the last quarter. Legal & General Group Plc grew its holdings in Radware by 14.8% during the 4th quarter. Legal & General Group Plc now owns 2,235,702 shares of the information technology services provider’s stock valued at $50,370,000 after buying an additional 287,913 shares in the last quarter. Man Group plc grew its holdings in Radware by 506.9% during the 4th quarter. Man Group plc now owns 219,408 shares of the information technology services provider’s stock valued at $4,943,000 after buying an additional 183,258 shares in the last quarter. Renaissance Group LLC purchased a new position in Radware during the 4th quarter valued at about $2,240,000. Finally, SG Americas Securities LLC purchased a new position in Radware during the 1st quarter valued at about $2,127,000. 73.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wolfe Research assumed coverage on Radware in a report on Tuesday, July 8th. They set an “outperform” rating for the company. Barclays reissued an “overweight” rating and set a $35.00 price objective (up previously from $30.00) on shares of Radware in a report on Thursday. Finally, Jefferies Financial Group boosted their price objective on Radware from $25.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Radware presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Radware Stock Down 1.1%

Shares of Radware stock opened at $25.33 on Friday. The company has a market cap of $1.08 billion, a PE ratio of 79.16 and a beta of 0.97. The business has a 50 day moving average of $27.25 and a 200 day moving average of $24.04. Radware Ltd. has a 52 week low of $18.46 and a 52 week high of $31.57.

Radware (NASDAQ:RDWR) last announced its earnings results on Wednesday, July 30th. The information technology services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $74.22 million during the quarter, compared to the consensus estimate of $73.42 million. Radware had a return on equity of 6.11% and a net margin of 4.90%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. On average, research analysts anticipate that Radware Ltd. will post 0.28 earnings per share for the current year.

Radware 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.