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.

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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.

Insider Buying and Selling by Quarter for Barracuda Networks (NYSE:CUDA)

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