Wedge Capital Management L L P NC purchased a new position in shares of Barracuda Networks, Inc. (NYSE:CUDA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,930 shares of the communications equipment provider’s stock, valued at approximately $265,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Barracuda Networks by 7.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,934,104 shares of the communications equipment provider’s stock valued at $67,660,000 after purchasing an additional 204,731 shares in the last quarter. Systematic Financial Management LP increased 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 valued at $50,094,000 after acquiring an additional 426,715 shares during the last quarter. ETF Managers Group LLC bought a new stake in shares of Barracuda Networks in the 2nd quarter valued at approximately $44,968,000. Renaissance Technologies LLC increased 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 valued at $35,473,000 after acquiring an additional 402,605 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Barracuda Networks by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,393,043 shares of the communications equipment provider’s stock valued at $32,123,000 after acquiring an additional 129,425 shares during the last quarter. 65.59% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on CUDA shares. Robert W. Baird restated a “buy” rating and set a $29.00 price objective on shares of Barracuda Networks in a research note on Wednesday, October 11th. J P Morgan Chase & Co restated a “buy” rating and set a $35.00 price objective on shares of Barracuda Networks in a research note on Wednesday, October 11th. KeyCorp restated a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research note on Wednesday, October 11th. Rosenblatt Securities restated a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research note on Monday, October 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Barracuda Networks in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $28.10.

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In other news, CFO Dustin Driggs sold 1,250 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $24.03, for a total value of $30,037.50. Following the completion of the sale, the chief financial officer now owns 103,093 shares in the company, valued at $2,477,324.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michael D. Hughes sold 2,015 shares of the company’s stock in a transaction on Tuesday, October 17th. The shares were 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 owns 155,033 shares of the company’s stock, valued at approximately $3,503,745.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,062,431 shares of company stock valued at $75,302,664. Insiders own 13.90% of the company’s stock.

Barracuda Networks, Inc. (CUDA) opened at $22.42 on Friday. Barracuda Networks, Inc. has a 12-month low of $19.06 and a 12-month high of $26.16. The stock has a market capitalization of $1,194.56, a price-to-earnings ratio of 72.32, a price-to-earnings-growth ratio of 5.98 and a beta of 3.22.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.17. The company had revenue of $94.30 million during the quarter, compared to analyst estimates of $93.32 million. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. research analysts expect that Barracuda Networks, Inc. will post 0.31 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Barracuda Networks (NYSE:CUDA)

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