Insider Selling: William D. Jenkins, Jr. Unloads 7,500 Shares of Barracuda Networks Stock (CUDA)
Barracuda Networks (NYSE:CUDA) CEO William D. Jenkins, Jr. unloaded 7,500 shares of the company’s stock on the open market in a transaction dated Monday, June 2nd. The stock was sold at an average price of $28.04, for a total value of $210,300.00. Following the completion of the sale, the chief executive officer now directly owns 701,873 shares in the company, valued at approximately $19,680,519. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on CUDA shares. Analysts at Bank of America upgraded shares of Barracuda Networks from a “neutral” rating to a “buy” rating in a research note on Friday, April 25th. They now have a $39.50 price target on the stock. Analysts at Imperial Capital initiated coverage on shares of Barracuda Networks in a research note on Friday, April 4th. They set an “outperform” rating and a $40.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $30.79.
Barracuda Networks (NYSE:CUDA) traded down 0.50% during mid-day trading on Wednesday, hitting $27.72. The stock had a trading volume of 107,958 shares. Barracuda Networks has a one year low of $18.63 and a one year high of $44.40. The stock’s 50-day moving average is $27.29 and its 200-day moving average is $30.53. The company’s market cap is $1.415 billion.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The company had revenue of $60.30 million for the quarter, compared to the consensus estimate of $59.67 million. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts expect that Barracuda Networks will post $0.14 EPS for the current fiscal year.
Barracuda Networks, Inc (NYSE:CUDA) designs and delivers security and storage solutions.
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