Barracuda Networks, Inc. (NYSE:CUDA) was the recipient of some unusual options trading on Monday. Traders acquired 1,151 call options on the company. This is an increase of 1,193% compared to the typical daily volume of 89 call options.

Several analysts recently issued reports on the company. BidaskClub downgraded Barracuda Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. KeyCorp reissued a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a research note on Wednesday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Barracuda Networks in a research note on Tuesday, September 12th. J P Morgan Chase & Co reissued a “buy” rating and set a $35.00 target price on shares of Barracuda Networks in a research note on Wednesday, October 11th. Finally, Rosenblatt Securities reissued a “buy” rating on shares of Barracuda Networks in a research note on Sunday, October 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $28.10.

In other news, Director Michael D. Perone sold 598,000 shares of Barracuda Networks stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $25.72, for a total transaction of $15,380,560.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael D. Hughes sold 2,015 shares of Barracuda Networks stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $22.60, for a total value of $45,539.00. Following the transaction, the senior vice president now directly owns 155,033 shares in the company, valued at $3,503,745.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,667,559 shares of company stock worth $65,815,738. Insiders own 13.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ETF Managers Group LLC purchased a new stake in shares of Barracuda Networks in the 2nd quarter worth $44,968,000. Vanguard Group Inc. lifted its holdings in shares of Barracuda Networks by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 2,729,373 shares of the communications equipment provider’s stock worth $63,075,000 after buying an additional 436,541 shares during the period. Systematic Financial Management LP lifted its holdings in shares of Barracuda Networks by 24.4% in the 2nd quarter. Systematic Financial Management LP now owns 2,172,326 shares of the communications equipment provider’s stock worth $50,094,000 after buying an additional 426,715 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Barracuda Networks by 35.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,538,300 shares of the communications equipment provider’s stock worth $35,473,000 after buying an additional 402,605 shares during the period. Finally, Frontier Capital Management Co. LLC purchased a new stake in shares of Barracuda Networks in the 2nd quarter worth $9,125,000. Institutional investors own 68.10% of the company’s stock.

Barracuda Networks (NYSE:CUDA) opened at $23.51 on Thursday. Barracuda Networks has a 1-year low of $19.06 and a 1-year high of $26.16. The stock has a market capitalization of $1,200.43, a price-to-earnings ratio of 72.68, a P/E/G ratio of 6.01 and a beta of 3.22.

Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings data 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 company had revenue of $94.30 million during the quarter, compared to analysts’ expectations of $93.32 million. During the same quarter in the previous year, the business earned $0.21 EPS. Barracuda Networks’s revenue was up 7.3% compared to the same quarter last year. analysts forecast that Barracuda Networks will post 0.31 earnings per share for the current year.

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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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