Insider Selling: Barracuda Networks CMO Sells 10,140 Shares of Stock (CUDA)
Barracuda Networks (NYSE:CUDA) CMO Michael D. Perone sold 10,140 shares of Barracuda Networks stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $32.62, for a total value of $330,766.80. Following the completion of the transaction, the chief marketing officer now directly owns 5,419,973 shares of the company’s stock, valued at approximately $176,799,519. The sale was disclosed in a legal filing with the SEC, which is available at this link.
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. 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 research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $31.69.
Shares of Barracuda Networks (NYSE:CUDA) traded up 1.28% during mid-day trading on Wednesday, hitting $33.34. 122,939 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’s 50-day moving average is $30.11 and its 200-day moving average is $31.93. The company’s market cap is $1.702 billion.
Barracuda Networks (NYSE:CUDA) last released its 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.
Barracuda Networks, Inc (NYSE:CUDA) designs and delivers security and storage solutions.
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