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.

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

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