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Barracuda Networks (NYSE:CUDA) SVP Michael D. Hughes sold 5,625 shares of the stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.98, for a total transaction of $140,512.50. Following the completion of the transaction, the senior vice president now directly owns 25,000 shares of the company’s stock, valued at approximately $624,500. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

Barracuda Networks (NYSE:CUDA) traded up 3.49% on Wednesday, hitting $26.06. The stock had a trading volume of 482,682 shares. 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 $27.64 and its 200-day moving average is $30.23. The company’s market cap is $1.342 billion.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data 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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