Mirae Asset Global Investments Co. Ltd. Sells 328,330 Shares of Radware Ltd. (NASDAQ:RDWR)

Mirae Asset Global Investments Co. Ltd. lessened its position in Radware Ltd. (NASDAQ:RDWR) by 19.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,326,405 shares of the information technology services provider’s stock after selling 328,330 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 2.99% of Radware worth $27,319,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Trexquant Investment LP purchased a new position in shares of Radware during the fourth quarter valued at approximately $445,000. First Trust Advisors LP boosted its holdings in Radware by 90.4% during the 4th quarter. First Trust Advisors LP now owns 2,446,925 shares of the information technology services provider’s stock valued at $40,815,000 after acquiring an additional 1,161,535 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in Radware by 14.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 14,139 shares of the information technology services provider’s stock valued at $236,000 after acquiring an additional 1,774 shares during the last quarter. 73.12% of the stock is owned by hedge funds and other institutional investors.

Radware Price Performance

Shares of RDWR traded up $0.36 during midday trading on Friday, reaching $19.13. 197,863 shares of the stock were exchanged, compared to its average volume of 655,814. Radware Ltd. has a 52 week low of $13.53 and a 52 week high of $20.94. The company’s 50 day moving average is $18.69 and its two-hundred day moving average is $18.10.

Radware (NASDAQ:RDWR) last issued its earnings results on Wednesday, May 8th. The information technology services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Radware had a negative net margin of 7.67% and a negative return on equity of 2.62%. The company had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $63.57 million. During the same period in the prior year, the business earned ($0.02) EPS. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. On average, equities research analysts anticipate that Radware Ltd. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RDWR. Needham & Company LLC reissued a “hold” rating on shares of Radware in a research note on Friday, May 17th. StockNews.com upgraded shares of Radware from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 11th.

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.