Nordea Investment Management AB, a prominent investment management company, has recently decreased its position in Radware Ltd. (NASDAQ: RDWR) by 27.8% during the second quarter of this year. According to the information disclosed to the Securities and Exchange Commission (SEC), the fund owned 131,823 shares of Radware’s stock after selling 50,634 shares in this period. This move indicates a decrease from the previous ownership of about 0.30% by Nordea Investment Management AB and brings the total value of their position to $2,623,000 as per their latest SEC filing.
Radware, an information technology services provider, reported its quarterly earnings data on August 2nd. The company stated that it had earnings per share (EPS) of $0.10 for the quarter, falling short of analysts’ consensus estimates by $0.03. Additionally, Radware posted a negative net margin of 5.72% and a negative return on equity of 1.77%. The company generated revenue amounting to $65.60 million for the quarter, which was lower than analysts’ expectations set at $69.12 million.
In comparison to the same period last year, Radware experienced a decline in quarterly revenue by 12.6%. During this time frame in the previous year, they had earned $0.06 earnings per share.
It is anticipated that Radware Ltd. will report earnings per share of -0.29 for this current year based on predictions made by sell-side analysts.
As part of its business operations globally, Radware Ltd., along with its subsidiaries, focuses on developing, manufacturing, and marketing cyber security and application delivery solutions for various applications in cloud environments, on-premise setups, and software-defined data centers.
Some notable offerings from Radware include DefensePro – a real-time network attack mitigation device designed to safeguard data centers and application infrastructures, Radware Kubernetes – a Web Application Firewall solution, and Cyber Controller – a unified management, configuration, and attack lifecycle solution.
As of the referenced date in September 2023, this article provides insight into Nordea Investment Management AB’s recent decrease in its position in Radware Ltd. It also highlights the financial performance of Radware and outlines the key solutions it provides in the field of cyber security and application delivery.
Institutional Investors Show Interest in Radware Ltd. as Stock Trades Closer to Lowest Point
Radware Ltd., a leading provider of information technology services, has recently witnessed significant activity from various hedge funds and institutional investors. Among them, Phoenix Holdings Ltd. increased its stake in Radware by 16.8% during the fourth quarter, adding an additional 408,661 shares to its portfolio. This brings Phoenix Holdings’ total ownership to 2,840,143 shares worth $55,958,000.
Legal & General Group Plc also joined in by lifting its stake in Radware by 1.0% during the same period. The institution acquired 25,344 shares, taking their total ownership to 2,570,026 shares valued at $50,758,000.
Not to be left behind, Morgan Stanley increased its stake in the company by 13.3% during the fourth quarter as well. The renowned financial institution purchased an additional 269,436 shares of Radware’s stock for a total ownership of 2,291,231 shares worth $45,252,000.
Renaissance Technologies LLC also demonstrated interest in Radware by raising its stake by 3.7% during the first quarter. The investment firm acquired an extra 74,400 shares and now holds a total of 2,06886839 shares valued at $66,141000.
Lastly,Loomis Sayles & Co.LP made a significant move by increasing its stake in shares of Radware by a staggering 71.5% in the first quarter. The institutional investor added an impressive 519521 shares to their portfolio making it reach a whopping total of1254971shares worth $39834000.
All these developments combined mean that institutional investors now hold approximately75%of Radware’s stock.
When assessing the performance of RDWR (the ticker symbol for Radware), it traded at $16.32 on Friday as compared to its one-year low of $14.96 and its one-year high of $23.46. These figures suggest that the stock is currently trading closer to its lowest point. We also note that the company has a 50-day simple moving average of $17.31, while its two-hundred day simple moving average stands at $19.14.
With a market capitalization of approximately $715 million, Radware Ltd. operates with a negative price-to-earnings ratio, standing at -45.33 and boasting a beta of 0.94.
Despite these dynamics, several equity analysts have expressed their opinions on RDWR in recent times. For instance, Barclays lowered their price objective for the stock from $23 to $19 but maintained an “overweight” rating on it in their research note on August 3rd.
Additionally, StockNews.com upgraded Radware’s rating from “hold” to “buy” in another research note published recently. Lastly, TheStreet downgraded the stock from a “c-” rating to a “d+” rating in their analysis on August 21st.
These comments from equity analysts can provide some insights into the current standing of Radware Ltd., giving investors more perspective as they consider adding or retaining this stock in their portfolio.
In conclusion, institutional investors have shown significant interest in Radware Ltd., with notable increases in stakes by various companies during different periods. At present, the company’s stock is trading at relatively lower levels compared to its one-year high and lows. Additionally, expert opinions indicate mixed sentiments about RDWR’s prospects moving forward.