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.

Insider Buying and Selling by Quarter for Barracuda Networks (NYSE:CUDA)

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