Insider Selling: Barracuda Networks CFO Sells 2,528 Shares of Stock (CUDA)
Barracuda Networks (NYSE:CUDA) CFO David Faugno sold 2,528 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $30.54, for a total value of $77,205.12. Following the sale, the chief financial officer now directly owns 530,782 shares of the company’s stock, valued at approximately $16,210,082. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Barracuda Networks (NYSE:CUDA) traded up 0.69% on Tuesday, hitting $30.56. 137,207 shares of the company’s stock traded hands. Barracuda Networks has a one year low of $18.63 and a one year high of $44.40. The stock has a 50-day moving average of $28.27 and a 200-day moving average of $31.37. The company’s market cap is $1.560 billion.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters 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 quarterly revenue was up 14.9% on a year-over-year basis. Analysts expect that Barracuda Networks will post $0.14 earnings per share for the current fiscal year.
CUDA has been the subject of a number of recent research reports. Analysts at Topeka Capital Markets initiated coverage on shares of Barracuda Networks in a research note on Wednesday, June 18th. They set a “buy” rating and a $38.00 price target on the stock. Separately, 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. Finally, 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. Nine analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $31.69.
Barracuda Networks, Inc (NYSE:CUDA) designs and delivers security and storage solutions.
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