Gabelli Funds LLC Takes Position in Barracuda Networks Inc (CUDA)
Gabelli Funds LLC bought a new position in Barracuda Networks Inc (NYSE:CUDA) in the 4th quarter, HoldingsChannel.com reports. The firm bought 664,696 shares of the communications equipment provider’s stock, valued at approximately $18,279,000.
Several other institutional investors have also recently added to or reduced their stakes in CUDA. Wedge Capital Management L L P NC lifted its holdings in Barracuda Networks by 23.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 13,471 shares of the communications equipment provider’s stock valued at $370,000 after buying an additional 2,541 shares in the last quarter. FNY Partners Fund LP bought a new stake in Barracuda Networks during the 4th quarter valued at about $871,000. SG Americas Securities LLC bought a new stake in Barracuda Networks during the 4th quarter valued at about $362,000. American Capital Management Inc. bought a new stake in Barracuda Networks during the 4th quarter valued at about $231,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Barracuda Networks during the 3rd quarter valued at about $212,000. Hedge funds and other institutional investors own 74.46% of the company’s stock.
Shares of Barracuda Networks Inc (NYSE:CUDA) opened at $27.53 on Thursday. Barracuda Networks Inc has a twelve month low of $19.06 and a twelve month high of $27.95. The company has a market cap of $1,478.00, a PE ratio of 105.92, a PEG ratio of 7.28 and a beta of 3.07.
In other news, SVP Michael D. Hughes sold 1,390 shares of Barracuda Networks stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $21.97, for a total value of $30,538.30. Following the transaction, the senior vice president now owns 155,118 shares of the company’s stock, valued at approximately $3,407,942.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.90% of the stock is owned by insiders.
A number of equities research analysts recently weighed in on the stock. Imperial Capital lifted their price objective on shares of Barracuda Networks from $22.00 to $27.55 and gave the company a “line” rating in a report on Wednesday, January 10th. BTIG Research lowered shares of Barracuda Networks from a “buy” rating to a “neutral” rating in a report on Monday, November 27th. Needham & Company LLC lowered shares of Barracuda Networks from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Robert W. Baird restated a “buy” rating and issued a $29.00 price target on shares of Barracuda Networks in a report on Tuesday, October 24th. Finally, Zacks Investment Research lowered shares of Barracuda Networks from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $28.19.
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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