Barracuda Networks, Inc. (CUDA) SVP Michael D. Hughes Sells 625 Shares
Barracuda Networks, Inc. (NYSE:CUDA) SVP Michael D. Hughes sold 625 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $23.35, for a total transaction of $14,593.75. Following the transaction, the senior vice president now directly owns 156,283 shares of the company’s stock, valued at approximately $3,649,208.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Barracuda Networks, Inc. (NYSE:CUDA) traded down 1.23% during mid-day trading on Thursday, reaching $23.30. 1,177,723 shares of the company were exchanged. Barracuda Networks, Inc. has a 12-month low of $19.06 and a 12-month high of $26.69. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 122.63 and a beta of 3.30. The company’s 50 day moving average price is $23.14 and its 200-day moving average price is $22.73.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $94.18 million for the quarter, compared to analyst estimates of $91.18 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. On average, equities research analysts forecast that Barracuda Networks, Inc. will post $0.76 earnings per share for the current fiscal year.
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A number of research analysts have weighed in on the stock. BidaskClub lowered shares of Barracuda Networks from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Robert W. Baird reissued a “buy” rating on shares of Barracuda Networks in a research report on Tuesday, July 11th. BTIG Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research report on Saturday, July 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research report on Wednesday, April 19th. Finally, Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $26.59.
Several large investors have recently made changes to their positions in CUDA. Bank of New York Mellon Corp raised its stake in shares of Barracuda Networks by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 122,232 shares of the communications equipment provider’s stock valued at $2,825,000 after buying an additional 4,694 shares during the period. US Bancorp DE raised its stake in shares of Barracuda Networks by 170.8% in the first quarter. US Bancorp DE now owns 8,226 shares of the communications equipment provider’s stock valued at $191,000 after buying an additional 5,188 shares during the period. Capital Fund Management S.A. raised its stake in shares of Barracuda Networks by 14.5% in the first quarter. Capital Fund Management S.A. now owns 73,476 shares of the communications equipment provider’s stock valued at $1,698,000 after buying an additional 9,300 shares during the period. American Century Companies Inc. raised its stake in shares of Barracuda Networks by 3.0% in the first quarter. American Century Companies Inc. now owns 286,968 shares of the communications equipment provider’s stock valued at $6,632,000 after buying an additional 8,477 shares during the period. Finally, Algert Global LLC raised its stake in shares of Barracuda Networks by 19.3% in the first quarter. Algert Global LLC now owns 60,904 shares of the communications equipment provider’s stock valued at $1,407,000 after buying an additional 9,833 shares during the period. 61.61% of the stock is currently owned by institutional investors.
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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