Barracuda Networks Inc. (NYSE:CUDA) Given Average Recommendation of “Hold” by Brokerages
Barracuda Networks Inc. (NYSE:CUDA) has received an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the firm. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $23.10.
Several analysts have commented on CUDA shares. Vetr raised Barracuda Networks from a “buy” rating to a “strong-buy” rating and set a $17.50 price objective for the company in a research note on Monday, June 13th. Imperial Capital reaffirmed an “in-line” rating and set a $15.00 price objective (down from $16.00) on shares of Barracuda Networks in a research note on Thursday, June 30th. Summit Research started coverage on Barracuda Networks in a research note on Friday, July 1st. They set a “hold” rating for the company. Summit Redstone reaffirmed a “hold” rating and set a $15.00 price objective on shares of Barracuda Networks in a research note on Saturday, July 2nd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $15.50 price objective on shares of Barracuda Networks in a research note on Wednesday, July 6th.
In other news, SVP Michael D. Hughes sold 4,468 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $25.05, for a total transaction of $111,923.40. Following the sale, the senior vice president now owns 113,971 shares in the company, valued at $2,854,973.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon Stitt acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were acquired at an average price of $20.81 per share, for a total transaction of $83,240.00. The disclosure for this purchase can be found here. Company insiders own 39.60% of the company’s stock.
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Large investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its stake in Barracuda Networks by 0.7% in the second quarter. Parametric Portfolio Associates LLC now owns 38,620 shares of the company’s stock valued at $585,000 after buying an additional 271 shares during the period. Geode Capital Management LLC boosted its stake in Barracuda Networks by 1.1% in the first quarter. Geode Capital Management LLC now owns 127,648 shares of the company’s stock valued at $1,964,000 after buying an additional 1,373 shares during the period. BlackRock Advisors LLC boosted its stake in Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock valued at $156,000 after buying an additional 3,900 shares during the period. US Bancorp DE boosted its stake in Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock valued at $107,000 after buying an additional 4,698 shares during the period. Finally, American International Group Inc. boosted its stake in Barracuda Networks by 166.8% in the second quarter. American International Group Inc. now owns 12,670 shares of the company’s stock valued at $192,000 after buying an additional 7,922 shares during the period. Institutional investors and hedge funds own 54.20% of the company’s stock.
Shares of Barracuda Networks (NYSE:CUDA) traded up 2.581% on Monday, reaching $24.445. The company had a trading volume of 264,345 shares. The company’s 50-day moving average price is $23.75 and its 200 day moving average price is $18.96. Barracuda Networks has a 52 week low of $9.44 and a 52 week high of $25.77. The firm has a market capitalization of $1.27 billion, a P/E ratio of 611.125 and a beta of 3.60.
Barracuda Networks Company Profile
Barracuda Networks, Inc (Barracuda Networks) designs and delivers security and storage solutions. The Company offers cloud-connected solutions for its customers to address security threats, improve network performance and protect and store their data. The Company’s security and storage solutions are connected to its cloud services, which enable continuous software updates, offsite redundancy and distributed capacity, and are offered on a subscription basis.
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