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.

Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Monday, January 8th. The communications equipment provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Barracuda Networks had a net margin of 4.09% and a return on equity of 74.59%. equities analysts forecast that Barracuda Networks Inc will post 0.32 earnings per share for the current year.

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.

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

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