Insider Selling: Barracuda Networks, Inc. (CUDA) Director Sells 38,683 Shares of Stock
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.
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