Barracuda Networks, Inc. (CUDA) Director Sells $2,281,984.48 in Stock
Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 94,453 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $24.16, for a total transaction of $2,281,984.48. Following the completion of the transaction, the director now owns 1,816,494 shares in the company, valued at approximately $43,886,495.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Barracuda Networks, Inc. (CUDA) opened at 24.23 on Monday. The company has a market capitalization of $1.28 billion, a PE ratio of 127.53 and a beta of 3.27. Barracuda Networks, Inc. has a one year low of $19.06 and a one year high of $26.69. The company has a 50 day moving average price of $23.54 and a 200-day moving average price of $22.73.
Barracuda Networks (NYSE:CUDA) last released its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The company had revenue of $94.18 million during the quarter, compared to analysts’ expectations of $91.18 million. During the same quarter last year, the business posted $0.20 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts expect that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.
CUDA has been the subject of a number of analyst reports. Robert W. Baird reissued a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Northland Securities reaffirmed a “buy” rating and set a $28.00 price target on shares of Barracuda Networks in a research report on Friday, June 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a research report on Monday, June 26th. Zacks Investment Research upgraded Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, July 13th. Finally, BTIG Research reiterated a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $26.59.
Institutional investors and hedge funds have recently bought and sold shares of the business. ETF Managers Group LLC purchased a new position in Barracuda Networks during the second quarter valued at $44,968,000. Rothschild Asset Management Inc. bought a new stake in shares of Barracuda Networks during the 1st quarter valued at $17,256,000. AMI Asset Management Corp bought a new stake in shares of Barracuda Networks during the 2nd quarter valued at $10,897,000. Renaissance Technologies LLC boosted its holdings in shares of Barracuda Networks by 64.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,135,695 shares of the communications equipment provider’s stock valued at $26,246,000 after buying an additional 443,495 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Barracuda Networks by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 2,729,373 shares of the communications equipment provider’s stock valued at $63,075,000 after buying an additional 436,541 shares in the last quarter. Institutional investors and hedge funds own 65.96% of the company’s stock.
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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