Piedmont Investment Advisors LLC acquired a new stake in Barracuda Networks Inc (NYSE:CUDA) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 8,769 shares of the communications equipment provider’s stock, valued at approximately $212,000.

Several other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Barracuda Networks by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after acquiring an additional 717 shares in the last quarter. Advisors Asset Management Inc. bought a new position in shares of Barracuda Networks in the 2nd quarter worth about $113,000. Pinebridge Investments L.P. bought a new position in shares of Barracuda Networks in the 3rd quarter worth about $121,000. Legal & General Group Plc increased its stake in shares of Barracuda Networks by 15.7% in the 2nd quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after acquiring an additional 828 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Barracuda Networks in the 3rd quarter worth about $162,000. 75.79% of the stock is owned by institutional investors.

Barracuda Networks Inc (NYSE:CUDA) opened at $27.52 on Monday. Barracuda Networks Inc has a 1-year low of $19.06 and a 1-year high of $27.95. The firm has a market cap of $1,475.18, a P/E ratio of 88.77, a price-to-earnings-growth ratio of 7.34 and a beta of 3.28.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. The business had revenue of $94.30 million for the quarter, compared to the consensus estimate of $93.32 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. analysts predict that Barracuda Networks Inc will post 0.32 earnings per share for the current fiscal year.

In related news, CEO William D. Jenkins, Jr. sold 16,500 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $24.30, for a total value of $400,950.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael D. Perone sold 253,629 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $24.33, for a total transaction of $6,170,793.57. Following the transaction, the director now owns 2,151,074 shares in the company, valued at approximately $52,335,630.42. The disclosure for this sale can be found here. Insiders have sold 1,555,766 shares of company stock worth $38,784,757 in the last ninety days. Insiders own 13.90% of the company’s stock.

A number of research firms have weighed in on CUDA. J P Morgan Chase & Co lowered shares of Barracuda Networks from an “overweight” rating to a “neutral” rating and set a $27.55 price objective for the company. in a research note on Tuesday, December 12th. ValuEngine upgraded shares of Barracuda Networks from a “sell” rating to a “hold” rating in a research note on Monday, November 27th. Needham & Company LLC lowered shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Stephens lowered shares of Barracuda Networks from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 28th. Finally, Zacks Investment Research upgraded shares of Barracuda Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $27.60.

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Barracuda Networks Profile

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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