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.

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

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