Insider Selling: Barracuda Networks SVP Sells 5,625 Shares of Stock (CUDA)
Barracuda Networks (NYSE:CUDA) SVP Michael D. Hughes sold 5,625 shares of Barracuda Networks stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $30.91, for a total value of $173,868.75. Following the sale, the senior vice president now directly owns 25,000 shares of the company’s stock, valued at approximately $772,750. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Barracuda Networks (NYSE:CUDA) traded up 2.66% during mid-day trading on Thursday, hitting $33.97. The stock had a trading volume of 85,157 shares. Barracuda Networks has a 52-week low of $18.63 and a 52-week high of $44.40. The stock’s 50-day moving average is $29.41 and its 200-day moving average is $31.6. The company’s market cap is $1.734 billion.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ 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. Barracuda Networks’s revenue was up 14.9% compared to the same quarter last year. Analysts expect that Barracuda Networks will post $0.14 EPS for the current fiscal year.
Several analysts have recently commented on the stock. 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 company currently has a consensus rating of “Buy” and an average price target of $31.69.
Barracuda Networks, Inc (NYSE:CUDA) designs and delivers security and storage solutions.
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