Migdal Insurance & Financial Holdings Ltd. grew its stake in Barracuda Networks, Inc. (NYSE:CUDA) by 109.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,474 shares of the communications equipment provider’s stock after acquiring an additional 8,100 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Barracuda Networks were worth $375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CUDA. Vanguard Group Inc. lifted its stake in Barracuda Networks by 7.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,934,104 shares of the communications equipment provider’s stock valued at $67,660,000 after purchasing an additional 204,731 shares during the last quarter. Systematic Financial Management LP lifted its stake in Barracuda Networks by 24.4% in the 2nd quarter. Systematic Financial Management LP now owns 2,172,326 shares of the communications equipment provider’s stock valued at $50,094,000 after purchasing an additional 426,715 shares during the last quarter. ETF Managers Group LLC acquired a new stake in Barracuda Networks in the 2nd quarter valued at about $44,968,000. Renaissance Technologies LLC lifted its stake in Barracuda Networks by 35.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,538,300 shares of the communications equipment provider’s stock valued at $35,473,000 after purchasing an additional 402,605 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Barracuda Networks by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,393,043 shares of the communications equipment provider’s stock valued at $32,123,000 after purchasing an additional 129,425 shares during the last quarter. Institutional investors own 65.59% of the company’s stock.

Shares of Barracuda Networks, Inc. (CUDA) traded up $0.31 on Friday, hitting $22.42. 467,100 shares of the stock traded hands, compared to its average volume of 942,207. Barracuda Networks, Inc. has a 12 month low of $19.06 and a 12 month high of $26.16. The company has a market capitalization of $1,194.56, a PE ratio of 72.32, a PEG ratio of 5.98 and a beta of 3.22.

Barracuda Networks (NYSE:CUDA) last announced its earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. The company had revenue of $94.30 million for the quarter, compared to analysts’ expectations of $93.32 million. During the same period last year, the firm earned $0.21 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. research analysts predict that Barracuda Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

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In related news, SVP Michael D. Hughes sold 2,015 shares of Barracuda Networks stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $22.60, for a total value of $45,539.00. Following the transaction, the senior vice president now directly owns 155,033 shares of the company’s stock, valued at $3,503,745.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael D. Perone sold 236,987 shares of Barracuda Networks stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $24.02, for a total transaction of $5,692,427.74. Following the completion of the transaction, the director now directly owns 2,988,898 shares in the company, valued at $71,793,329.96. The disclosure for this sale can be found here. Insiders have sold 3,062,431 shares of company stock worth $75,302,664 over the last ninety days. Insiders own 13.90% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 target price on shares of Barracuda Networks in a research note on Tuesday, September 12th. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Saturday, July 22nd. Robert W. Baird reiterated a “buy” rating and issued a $29.00 target price on shares of Barracuda Networks in a research note on Tuesday, October 24th. BidaskClub downgraded shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. Finally, Zacks Investment Research downgraded shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.10.

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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