Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 54,054 shares of Barracuda Networks stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $24.51, for a total value of $1,324,863.54. Following the completion of the transaction, the director now owns 1,625,793 shares in the company, valued at $39,848,186.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Barracuda Networks, Inc. (NYSE CUDA) traded up 0.87% during midday trading on Thursday, reaching $25.41. The company’s stock had a trading volume of 206,666 shares. The firm has a 50 day moving average price of $23.94 and a 200-day moving average price of $22.83. Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $26.69. The firm has a market cap of $1.35 billion, a P/E ratio of 133.74 and a beta of 3.27.

Barracuda Networks (NYSE:CUDA) last announced its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The company had revenue of $94.18 million for the quarter, compared to analysts’ expectations of $91.18 million. During the same period last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts forecast that Barracuda Networks, Inc. will post $0.76 earnings per share for the current fiscal year.

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A number of research firms have recently commented on CUDA. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Barracuda Networks in a research note on Tuesday, September 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price objective on shares of Barracuda Networks in a research note on Tuesday, September 12th. BidaskClub upgraded Barracuda Networks from a “strong sell” rating to a “sell” rating in a research note on Friday, September 8th. Robert W. Baird reiterated a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Finally, Imperial Capital lifted their price objective on Barracuda Networks from $20.00 to $21.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $26.59.

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in Barracuda Networks by 17.6% in 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 last quarter. Advisors Asset Management Inc. bought a new position in Barracuda Networks in the second quarter valued at approximately $113,000. Legal & General Group Plc increased its stake in Barracuda Networks by 15.7% in 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 last quarter. Asset Management One Co. Ltd. increased its stake in Barracuda Networks by 2.9% in 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 last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in Barracuda Networks by 17.6% in 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 last quarter. 65.96% of the stock is currently owned by institutional investors and hedge funds.

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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