Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 38,683 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $24.40, for a total transaction of $943,865.20. Following the sale, the director now directly owns 2,694,923 shares of the company’s stock, valued at approximately $65,756,121.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Barracuda Networks, Inc. (CUDA) traded down 0.12% on Friday, reaching $24.11. 388,177 shares of the company’s stock traded hands. The stock has a 50-day moving average of $23.28 and a 200 day moving average of $22.70. The firm has a market cap of $1.28 billion, a P/E ratio of 126.89 and a beta of 3.28. Barracuda Networks, Inc. has a 12-month low of $19.06 and a 12-month high of $26.69.

Barracuda Networks (NYSE:CUDA) last issued its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. The firm had revenue of $94.18 million during 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 business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. On average, equities research analysts expect that Barracuda Networks, Inc. will post $0.76 earnings per share for the current year.

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Several equities research analysts have weighed in on CUDA shares. Northland Securities reissued a “buy” rating and set a $28.00 price target on shares of Barracuda Networks in a research report on Friday, June 30th. Zacks Investment Research cut shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Pacific Crest reissued an “overweight” rating and set a $30.00 price target on shares of Barracuda Networks in a research report on Wednesday, June 28th. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a research report on Monday, June 26th. Finally, Imperial Capital increased their price target on shares of Barracuda Networks from $20.00 to $21.00 and gave the company an “in-line” rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Barracuda Networks currently has an average rating of “Buy” and a consensus target price of $26.59.

Institutional investors and hedge funds have recently modified their holdings of the company. Gotham Asset Management LLC boosted its stake in shares of Barracuda Networks by 2.5% during the first quarter. Gotham Asset Management LLC now owns 35,109 shares of the communications equipment provider’s stock valued at $811,000 after purchasing an additional 871 shares during the period. Atria Investments LLC bought a new stake in shares of Barracuda Networks in the second quarter valued at about $204,000. Clearbridge Investments LLC raised its holdings in shares of Barracuda Networks by 0.8% in the first quarter. Clearbridge Investments LLC now owns 2,034,008 shares of the communications equipment provider’s stock valued at $47,006,000 after acquiring an additional 16,324 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Barracuda Networks by 63.7% in the second quarter. AlphaMark Advisors LLC now owns 44,200 shares of the communications equipment provider’s stock valued at $1,019,000 after acquiring an additional 17,200 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of Barracuda Networks in the first quarter valued at about $4,867,000. 65.98% of the stock is owned by hedge funds and other institutional investors.

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.

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

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