Michael D. Perone Sells 50,171 Shares of Barracuda Networks, Inc. (CUDA) Stock
Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 50,171 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $24.29, for a total value of $1,218,653.59. Following the sale, the director now owns 2,694,923 shares of the company’s stock, valued at approximately $65,459,679.67. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Barracuda Networks, Inc. (NYSE:CUDA) traded down 0.12% during midday trading on Friday, reaching $24.11. The company’s stock had a trading volume of 388,177 shares. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 126.89 and a beta of 3.28. Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $26.69. The company has a 50 day moving average of $23.28 and a 200-day moving average of $22.70.
Barracuda Networks (NYSE:CUDA) last announced its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $91.18 million. During the same period in the prior year, the company earned $0.20 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts predict that Barracuda Networks, Inc. will post $0.76 earnings per share for the current year.
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Several large investors have recently made changes to their positions in CUDA. ETF Managers Group LLC purchased a new stake in shares of Barracuda Networks in the second quarter valued at about $44,968,000. Systematic Financial Management LP purchased a new stake in shares of Barracuda Networks in the first quarter valued at about $40,341,000. Rothschild Asset Management Inc. purchased a new stake in shares of Barracuda Networks in the first quarter valued at about $17,256,000. State of Wisconsin Investment Board purchased a new stake in shares of Barracuda Networks in the first quarter valued at about $10,977,000. Finally, AMI Asset Management Corp purchased a new stake in shares of Barracuda Networks in the second quarter valued at about $10,897,000. 65.98% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the company. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Northland Securities restated a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a research note on Friday, June 30th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Monday, June 26th. Zacks Investment Research upgraded Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Thursday, July 13th. Finally, BTIG Research restated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.59.
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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