Insider Selling: Barracuda Networks CMO Sells 7,605 Shares of Stock (CUDA)
Barracuda Networks (NYSE:CUDA) CMO Michael D. Perone sold 7,605 shares of the company’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $31.52, for a total value of $239,709.60. Following the sale, the chief marketing officer now directly owns 5,454,693 shares of the company’s stock, valued at approximately $171,931,923. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Barracuda Networks (NYSE:CUDA) traded down 0.35% on Friday, hitting $31.50. 382,082 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 $28.84 and a 200-day moving average of $31.42. The company’s market cap is $1.608 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. On average, analysts predict that Barracuda Networks will post $0.14 earnings per share for the current fiscal year.
A number of research firms have recently commented on CUDA. 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 equities research analysts have rated the stock with a buy rating, The stock presently has an average 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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