Dustin Driggs Sells 1,250 Shares of Barracuda Networks Inc (CUDA) Stock
Barracuda Networks Inc (NYSE:CUDA) CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $22.29, for a total value of $27,862.50. Following the sale, the chief financial officer now owns 36,717 shares of the company’s stock, valued at approximately $818,421.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Dustin Driggs also recently made the following trade(s):
- On Tuesday, April 11th, Dustin Driggs sold 1,250 shares of Barracuda Networks stock. The stock was sold at an average price of $23.32, for a total value of $29,150.00.
Shares of Barracuda Networks Inc (NYSE:CUDA) traded down 2.91% on Wednesday, reaching $22.33. 685,862 shares of the company’s stock traded hands. Barracuda Networks Inc has a one year low of $13.91 and a one year high of $26.69. The company’s 50-day moving average price is $21.75 and its 200 day moving average price is $22.83. The firm has a market cap of $1.18 billion, a P/E ratio of 117.53 and a beta of 3.43.
Barracuda Networks (NYSE:CUDA) last posted its earnings results on Monday, April 17th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Barracuda Networks had a net margin of 2.95% and a negative return on equity of 101.22%. The business had revenue of $89.26 million for the quarter, compared to analysts’ expectations of $88.39 million. During the same period in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts forecast that Barracuda Networks Inc will post $0.77 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the company. Francisco Partners Management LP purchased a new stake in Barracuda Networks during the fourth quarter valued at about $56,797,000. Systematic Financial Management LP purchased a new stake in Barracuda Networks during the first quarter valued at about $40,341,000. Norges Bank purchased a new stake in Barracuda Networks during the fourth quarter valued at about $20,352,000. Rothschild Asset Management Inc. purchased a new stake in Barracuda Networks during the first quarter valued at about $17,256,000. Finally, Numeric Investors LLC boosted its stake in Barracuda Networks by 272.9% in the fourth quarter. Numeric Investors LLC now owns 697,415 shares of the communications equipment provider’s stock valued at $14,946,000 after buying an additional 510,384 shares in the last quarter. Institutional investors and hedge funds own 57.17% of the company’s stock.
A number of research firms have recently weighed in on CUDA. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research report on Wednesday, April 19th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research report on Wednesday, April 19th. DA Davidson dropped their price target on shares of Barracuda Networks from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, April 18th. Robert W. Baird reiterated a “buy” rating on shares of Barracuda Networks in a research report on Tuesday, April 18th. Finally, Piper Jaffray Companies dropped their price target on shares of Barracuda Networks from $32.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Barracuda Networks presently has an average rating of “Hold” and an average target price of $25.85.
About Barracuda Networks
Barracuda Networks, Inc designs and delivers security and data protection solutions. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers.
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