Renaissance Technologies LLC Cuts Position in Radware Ltd. (NASDAQ:RDWR)

Renaissance Technologies LLC reduced its stake in shares of Radware Ltd. (NASDAQ:RDWR) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,650,130 shares of the information technology services provider’s stock after selling 79,710 shares during the quarter. Renaissance Technologies LLC’s holdings in Radware were worth $37,177,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in Radware by 184.7% in the third quarter. BNP Paribas Financial Markets now owns 21,781 shares of the information technology services provider’s stock valued at $485,000 after acquiring an additional 14,130 shares in the last quarter. Verition Fund Management LLC grew its stake in Radware by 3.0% during the 3rd quarter. Verition Fund Management LLC now owns 16,084 shares of the information technology services provider’s stock worth $358,000 after buying an additional 468 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Radware by 78.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 11,800 shares of the information technology services provider’s stock worth $263,000 after buying an additional 5,200 shares during the last quarter. State Street Corp raised its stake in Radware by 4.2% in the third quarter. State Street Corp now owns 586,660 shares of the information technology services provider’s stock valued at $13,071,000 after buying an additional 23,725 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Radware in the third quarter worth about $1,117,000. Institutional investors own 73.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on RDWR. Jefferies Financial Group cut their price objective on shares of Radware from $26.00 to $24.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Needham & Company LLC restated a “hold” rating on shares of Radware in a research note on Friday, February 14th.

Radware Stock Performance

Shares of RDWR opened at $20.62 on Friday. The stock has a 50-day moving average of $22.15 and a two-hundred day moving average of $22.46. The stock has a market cap of $865.94 million, a P/E ratio of 147.30 and a beta of 0.98. Radware Ltd. has a one year low of $16.12 and a one year high of $25.00.

Radware (NASDAQ:RDWR) last released its earnings results on Wednesday, February 12th. The information technology services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.12). Radware had a return on equity of 3.81% and a net margin of 2.20%. Analysts predict that Radware Ltd. will post 0.28 EPS for the current fiscal year.

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.