Millennium Management LLC Buys 365,131 Shares of Radware Ltd. (NASDAQ:RDWR)

Millennium Management LLC increased its stake in Radware Ltd. (NASDAQ:RDWR) by 2,346.9% during the second quarter, Holdings Channel reports. The firm owned 380,689 shares of the information technology services provider’s stock after acquiring an additional 365,131 shares during the period. Millennium Management LLC’s holdings in Radware were worth $6,944,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Radware in the second quarter worth $362,000. Squarepoint Ops LLC bought a new position in Radware in the second quarter valued at about $741,000. Cubist Systematic Strategies LLC bought a new position in Radware in the second quarter valued at about $4,453,000. Point72 DIFC Ltd bought a new position in Radware in the second quarter valued at about $169,000. Finally, Marshall Wace LLP bought a new position in Radware in the second quarter valued at about $561,000. Institutional investors own 73.12% of the company’s stock.

Radware Price Performance

Radware stock opened at $22.58 on Friday. The stock’s 50 day moving average is $21.73 and its 200 day moving average is $19.58. The firm has a market cap of $1.00 billion, a P/E ratio of -49.09 and a beta of 0.97. Radware Ltd. has a one year low of $13.53 and a one year high of $23.05.

Radware (NASDAQ:RDWR) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $0.08 EPS for the quarter. Radware had a negative return on equity of 0.72% and a negative net margin of 4.73%. The company had revenue of $67.28 million for the quarter, compared to analyst estimates of $66.10 million. Equities analysts anticipate that Radware Ltd. will post 0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on RDWR shares. Barclays lifted their price target on Radware from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Radware in a research note on Wednesday, July 31st. Finally, StockNews.com raised Radware from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 21st.

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.