Barracuda Networks, Inc. (CUDA) CEO Sells $396,000.00 in Stock
Barracuda Networks, Inc. (NYSE:CUDA) CEO William D. Jenkins, Jr. sold 16,500 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $24.00, for a total value of $396,000.00. Following the completion of the sale, the chief executive officer now directly owns 604,608 shares of the company’s stock, valued at $14,510,592. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Barracuda Networks, Inc. (NYSE CUDA) traded down 1.75% during trading on Wednesday, hitting $23.59. The stock had a trading volume of 5,347,132 shares. Barracuda Networks, Inc. has a 52-week low of $19.06 and a 52-week high of $26.69. The firm has a market cap of $1.25 billion, a PE ratio of 124.16 and a beta of 3.30. The stock has a 50 day moving average of $23.13 and a 200 day moving average of $22.73.
Barracuda Networks (NYSE:CUDA) last announced its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.18. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The business had revenue of $94.18 million during the quarter, compared to the consensus estimate of $91.18 million. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Barracuda Networks, Inc. will post $0.76 EPS for the current year.
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Several institutional investors have recently made changes to their positions in CUDA. Victory Capital Management Inc. increased its position in shares of Barracuda Networks by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 717 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Barracuda Networks during the second quarter worth $113,000. Legal & General Group Plc increased its position in shares of Barracuda Networks by 15.7% in the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after buying an additional 828 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 177 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its position in shares of Barracuda Networks by 9.5% in the first quarter. Acrospire Investment Management LLC now owns 6,900 shares of the communications equipment provider’s stock worth $159,000 after buying an additional 600 shares in the last quarter. 61.61% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on CUDA. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research report on Wednesday, April 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a research report on Wednesday, April 19th. Northland Securities reaffirmed a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a research report on Friday, June 30th. BidaskClub lowered Barracuda Networks from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Finally, DA Davidson decreased their target price on Barracuda Networks from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Barracuda Networks has a consensus rating of “Buy” and a consensus price target of $26.59.
Barracuda Networks Company Profile
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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