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Barracuda Networks (NYSE:CUDA) CMO Zachary S. Levow sold 8,963 shares of the company’s stock on the open market in a transaction dated Friday, July 11th. The stock was sold at an average price of $35.00, for a total value of $313,705.00. Following the completion of the sale, the chief marketing officer now directly owns 3,415,608 shares in the company, valued at approximately $119,546,280. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 equities research analysts have rated the stock with a buy rating, Barracuda Networks has an average rating of “Buy” and an average target price of $31.69.

Shares of Barracuda Networks (NYSE:CUDA) traded down 6.60% on Tuesday, hitting $32.28. 302,541 shares of the company’s stock traded hands. 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 $30.6 and its 200-day moving average is $32.01. The company’s market cap is $1.662 billion.

Barracuda Networks (NYSE:CUDA) last announced its earnings results on Thursday, July 10th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $66.20 million for the quarter, compared to the consensus estimate of $64.38 million. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, analysts predict that Barracuda Networks will post $0.17 earnings per share for the current fiscal year.

Barracuda Networks, Inc (NYSE:CUDA) designs and delivers security and storage solutions.

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