Insider Selling: Michael D. Perone Unloads 1,541 Shares of Barracuda Networks Stock (CUDA)
Barracuda Networks (NYSE:CUDA) CMO Michael D. Perone sold 1,541 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $31.20, for a total value of $48,079.20. Following the transaction, the chief marketing officer now directly owns 5,453,674 shares of the company’s stock, valued at approximately $170,154,629. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Barracuda Networks (NYSE:CUDA) opened at 33.97 on Friday. 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 $29.62 and a 200-day moving average of $31.67. The company’s market cap is $1.734 billion.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data 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. 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. Nine investment analysts have rated the stock with a buy rating, The company presently 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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