Insider Selling: Barracuda Networks Insider Sells 2,083 Shares of Stock (CUDA)
Barracuda Networks (NYSE:CUDA) Insider Dustin Driggs sold 2,083 shares of the company’s stock on the open market in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $32.68, for a total transaction of $68,072.44. Following the sale, the insider now directly owns 20,834 shares in the company, valued at approximately $680,855. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Barracuda Networks (NYSE:CUDA) traded down 4.24% during mid-day trading on Monday, hitting $32.53. The stock had a trading volume of 143,686 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 $29.84 and its 200-day moving average is $31.87. The company’s market cap is $1.661 billion.
Barracuda Networks (NYSE:CUDA) last announced its 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. 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. 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 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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