Barracuda Networks, Inc. (NYSE:CUDA) SVP Michael D. Hughes sold 2,015 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $22.60, for a total value of $45,539.00. Following the completion of the sale, the senior vice president now directly owns 155,033 shares of the company’s stock, valued at $3,503,745.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Barracuda Networks, Inc. (NYSE:CUDA) traded down 0.22% during trading on Wednesday, reaching $22.51. The company had a trading volume of 796,798 shares. Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $26.40. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 132.41 and a beta of 3.27. The firm has a 50-day moving average of $24.18 and a 200 day moving average of $22.89.

Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The firm had revenue of $94.30 million during the quarter, compared to the consensus estimate of $93.32 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts forecast that Barracuda Networks, Inc. will post $0.75 earnings per share for the current year.

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A number of hedge funds have recently bought and sold shares of CUDA. Victory Capital Management Inc. grew its position in Barracuda Networks by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock valued at $111,000 after acquiring an additional 717 shares during the period. Advisors Asset Management Inc. purchased a new stake in Barracuda Networks during the second quarter valued at about $113,000. Legal & General Group Plc grew its position in Barracuda Networks by 15.7% during the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock valued at $140,000 after acquiring an additional 828 shares during the period. Asset Management One Co. Ltd. grew its position in Barracuda Networks by 2.9% during the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock valued at $146,000 after acquiring an additional 177 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Barracuda Networks by 17.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock valued at $167,000 after acquiring an additional 1,104 shares during the period. 65.47% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have issued reports on CUDA shares. Zacks Investment Research raised 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. BidaskClub raised Barracuda Networks from a “strong sell” rating to a “sell” rating in a research note on Friday, September 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Monday, October 9th. Robert W. Baird reaffirmed a “buy” rating and issued a $29.00 target price on shares of Barracuda Networks in a research note on Wednesday, October 11th. Finally, Pacific Crest reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $28.10.

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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