Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 108,258 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $25.77, for a total value of $2,789,808.66. Following the completion of the transaction, the director now directly owns 1,378,038 shares in the company, valued at $35,512,039.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Barracuda Networks, Inc. (NYSE:CUDA) traded down 12.00% during trading on Wednesday, hitting $22.65. The stock had a trading volume of 8,430,431 shares. The company’s 50 day moving average is $24.18 and its 200-day moving average is $22.91. Barracuda Networks, Inc. has a 12 month low of $19.06 and a 12 month high of $26.40. The company has a market cap of $1.20 billion, a PE ratio of 119.21 and a beta of 3.27.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.17. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The firm had revenue of $94.30 million for the quarter, compared to the consensus estimate of $93.32 million. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Barracuda Networks, Inc. will post $0.76 earnings per share for the current year.

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A number of research analysts recently commented on CUDA shares. Robert W. Baird reissued a “buy” rating on shares of Barracuda Networks in a report on Tuesday, July 11th. Northland Securities reissued a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a report on Friday, June 30th. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Monday, June 26th. Zacks Investment Research raised Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday, July 13th. Finally, BTIG Research reissued a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $27.25.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position 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 worth $67,660,000 after buying an additional 204,731 shares in the last quarter. Systematic Financial Management LP increased 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 worth $50,094,000 after acquiring an additional 426,715 shares during the last quarter. Clearbridge Investments LLC increased 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 worth $47,006,000 after acquiring an additional 16,324 shares during the last quarter. ETF Managers Group LLC acquired a new stake in Barracuda Networks during the second quarter worth $44,968,000. Finally, Renaissance Technologies LLC increased 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 worth $35,473,000 after acquiring an additional 402,605 shares during the last quarter. Hedge funds and other institutional investors own 65.96% of the company’s stock.

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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