PDT Partners LLC Trims Holdings in Barracuda Networks, Inc. (CUDA)
PDT Partners LLC cut its holdings in shares of Barracuda Networks, Inc. (NYSE:CUDA) by 0.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,500 shares of the communications equipment provider’s stock after selling 173 shares during the quarter. PDT Partners LLC owned 0.32% of Barracuda Networks worth $3,886,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in CUDA. Rothschild Asset Management Inc. purchased a new position in shares of Barracuda Networks in the 1st quarter valued at about $17,256,000. AMI Asset Management Corp acquired a new position in shares of Barracuda Networks during the second quarter worth about $10,897,000. Renaissance Technologies LLC grew its position in shares of Barracuda Networks by 64.1% during the first quarter. Renaissance Technologies LLC now owns 1,135,695 shares of the communications equipment provider’s stock worth $26,246,000 after buying an additional 443,495 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Barracuda Networks by 19.0% during the first quarter. Vanguard Group Inc. now owns 2,729,373 shares of the communications equipment provider’s stock worth $63,075,000 after buying an additional 436,541 shares in the last quarter. Finally, Systematic Financial Management LP grew its position in shares of Barracuda Networks by 24.4% during the second quarter. Systematic Financial Management LP now owns 2,172,326 shares of the communications equipment provider’s stock worth $50,094,000 after buying an additional 426,715 shares in the last quarter. Institutional investors own 65.96% of the company’s stock.
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Several analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a report on Tuesday, September 12th. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 price objective on shares of Barracuda Networks in a research report on Tuesday, September 12th. BidaskClub upgraded shares of Barracuda Networks from a “strong sell” rating to a “sell” rating in a report on Friday, September 8th. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a report on Tuesday, July 11th. Finally, BTIG Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Barracuda Networks has an average rating of “Buy” and an average price target of $26.59.
Shares of Barracuda Networks, Inc. (NYSE CUDA) opened at 24.43 on Tuesday. Barracuda Networks, Inc. has a 12 month low of $19.06 and a 12 month high of $26.69. The company has a 50 day moving average price of $23.89 and a 200-day moving average price of $22.81. The firm has a market capitalization of $1.29 billion, a PE ratio of 128.58 and a beta of 3.27.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $94.18 million for the quarter, compared to analysts’ expectations of $91.18 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. Equities research analysts expect that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.
In other news, CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $22.63, for a total value of $28,287.50. Following the completion of the sale, the chief financial officer now directly owns 105,471 shares in the company, valued at approximately $2,386,808.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Jenkins, Jr. sold 80,612 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $24.02, for a total value of $1,936,300.24. Following the sale, the chief executive officer now directly owns 621,108 shares in the company, valued at $14,919,014.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,558,261 shares of company stock valued at $61,925,801. 13.90% of the stock is owned by corporate insiders.
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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