Balyasny Asset Management L.P. Acquires New Holdings in Radware Ltd. (NASDAQ:RDWR)

Balyasny Asset Management L.P. acquired a new stake in Radware Ltd. (NASDAQ:RDWR) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 10,064 shares of the information technology services provider’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Covestor Ltd acquired a new position in Radware during the 4th quarter worth approximately $28,000. Plato Investment Management Ltd acquired a new position in Radware during the 4th quarter worth approximately $30,000. New Age Alpha Advisors LLC acquired a new position in Radware during the 4th quarter worth approximately $32,000. Quantbot Technologies LP acquired a new position in Radware during the 4th quarter worth approximately $59,000. Finally, R Squared Ltd acquired a new position in Radware during the 4th quarter worth approximately $62,000. 73.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RDWR shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Radware in a research report on Friday, February 14th. Jefferies Financial Group dropped their price objective on 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 0.5%

Shares of Radware stock opened at $23.80 on Friday. Radware Ltd. has a 12-month low of $17.01 and a 12-month high of $25.00. The stock has a market cap of $1.02 billion, a P/E ratio of 170.01 and a beta of 0.95. The business’s 50 day moving average is $22.01 and its 200-day moving average is $22.45.

Radware (NASDAQ:RDWR) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Radware had a return on equity of 3.81% and a net margin of 2.20%. The company had revenue of $72.08 million for the quarter, compared to analysts’ expectations of $70.56 million. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts expect that Radware Ltd. will post 0.28 EPS for the current 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.