Barracuda Networks, Inc. (CUDA) SVP Sells $15,437.50 in Stock
Barracuda Networks, Inc. (NYSE:CUDA) SVP Michael D. Hughes sold 625 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $24.70, for a total transaction of $15,437.50. Following the completion of the sale, the senior vice president now owns 155,658 shares in the company, valued at $3,844,752.60. The transaction was disclosed in a filing with the SEC, which is available through this link.
Barracuda Networks, Inc. (CUDA) traded down 0.61% during trading on Wednesday, hitting $24.32. 547,800 shares of the company traded hands. The company’s 50 day moving average is $23.54 and its 200-day moving average is $22.73. The stock has a market capitalization of $1.29 billion, a PE ratio of 128.00 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.
Barracuda Networks (NYSE:CUDA) last released its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $94.18 million for the quarter, compared to the consensus estimate of $91.18 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Analysts predict that Barracuda Networks, Inc. will post $0.76 earnings per share for the current year.
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Several research firms have issued reports on CUDA. Northland Securities reiterated a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a research note on Friday, June 30th. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Saturday, July 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 target price on shares of Barracuda Networks in a research note on Wednesday, July 19th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $28.00 target price (down from $29.00) on shares of Barracuda Networks in a research note on Wednesday, July 12th. Finally, Imperial Capital increased their target price on shares of Barracuda Networks from $20.00 to $21.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.59.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Barracuda Networks by 7.5% during the second quarter. Vanguard Group Inc. now owns 2,934,104 shares of the communications equipment provider’s stock valued at $67,660,000 after purchasing an additional 204,731 shares in the last quarter. Systematic Financial Management LP raised its stake in Barracuda Networks by 24.4% during the second quarter. Systematic Financial Management LP now owns 2,172,326 shares of the communications equipment provider’s stock valued at $50,094,000 after purchasing an additional 426,715 shares in the last quarter. Clearbridge Investments LLC raised its stake in Barracuda Networks by 0.8% during 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 purchasing an additional 16,324 shares in the last quarter. ETF Managers Group LLC purchased a new stake in Barracuda Networks during the second quarter valued at $44,968,000. Finally, Renaissance Technologies LLC raised its stake in Barracuda Networks by 35.5% during the second quarter. Renaissance Technologies LLC now owns 1,538,300 shares of the communications equipment provider’s stock valued at $35,473,000 after purchasing an additional 402,605 shares in the last quarter. 65.96% of the stock is currently owned by 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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