Investors Purchase High Volume of Barracuda Networks Call Options (CUDA)
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.
WARNING: “Investors Purchase High Volume of Barracuda Networks Call Options (CUDA)” was posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/11/23/investors-purchase-high-volume-of-barracuda-networks-call-options-cuda.html.
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.
Receive News & Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.