Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 253,629 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $24.33, for a total value of $6,170,793.57. Following the transaction, the director now owns 2,151,074 shares in the company, valued at approximately $52,335,630.42. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Barracuda Networks, Inc. (NYSE:CUDA) traded down 0.62% during mid-day trading on Thursday, reaching $24.17. The company had a trading volume of 407,037 shares. The stock has a 50 day moving average price of $23.54 and a 200-day moving average price of $22.73. The stock has a market capitalization of $1.28 billion, a P/E ratio of 127.21 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 announced its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $94.18 million for the quarter, compared to analyst estimates of $91.18 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. Equities analysts anticipate that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.

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A number of research analysts recently commented on CUDA shares. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price target on shares of Barracuda Networks in a research report on Wednesday, July 19th. Northland Securities restated a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research report on Friday, June 30th. BTIG Research restated a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research report on Thursday, July 13th. Zacks Investment Research upgraded Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Thursday, July 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $26.59.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in Barracuda Networks by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after acquiring an additional 717 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Barracuda Networks in the 2nd quarter worth about $113,000. Legal & General Group Plc increased its stake in Barracuda Networks by 15.7% in the 2nd quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after acquiring an additional 828 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Barracuda Networks by 2.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after acquiring an additional 177 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in Barracuda Networks by 17.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock worth $167,000 after acquiring an additional 1,104 shares during the last quarter. Institutional investors and hedge funds own 65.96% of the company’s stock.

Barracuda Networks Company Profile

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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