Rhumbline Advisers raised its stake in Barracuda Networks Inc (NYSE:CUDA) by 27.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,333 shares of the communications equipment provider’s stock after buying an additional 16,393 shares during the quarter. Rhumbline Advisers’ holdings in Barracuda Networks were worth $2,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Arizona State Retirement System lifted its stake in Barracuda Networks by 228.4% in the fourth quarter. Arizona State Retirement System now owns 68,474 shares of the communications equipment provider’s stock valued at $1,883,000 after buying an additional 47,624 shares in the last quarter. Capital Fund Management S.A. bought a new position in Barracuda Networks in the fourth quarter valued at approximately $6,559,000. Trexquant Investment LP lifted its position in shares of Barracuda Networks by 1,084.0% in the fourth quarter. Trexquant Investment LP now owns 133,437 shares of the communications equipment provider’s stock worth $3,670,000 after purchasing an additional 122,167 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of Barracuda Networks by 282.6% in the fourth quarter. Pinebridge Investments L.P. now owns 19,114 shares of the communications equipment provider’s stock worth $525,000 after purchasing an additional 14,118 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Barracuda Networks by 2.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 150,491 shares of the communications equipment provider’s stock worth $4,138,000 after purchasing an additional 4,139 shares in the last quarter. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

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A number of analysts have recently commented on the stock. Imperial Capital boosted their price objective on shares of Barracuda Networks from $22.00 to $27.55 and gave the stock a “line” rating in a research report on Wednesday, January 10th. BTIG Research lowered shares of Barracuda Networks from a “buy” rating to a “neutral” rating in a research report on Monday, November 27th. Needham & Company LLC lowered shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Stifel Nicolaus lowered shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 27th. Finally, JPMorgan Chase & Co. lowered shares of Barracuda Networks from an “overweight” rating to a “neutral” rating and set a $27.55 price objective on the stock. in a research report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $28.32.

Barracuda Networks stock opened at $27.54 on Thursday. The firm has a market cap of $1,480.00 and a price-to-earnings ratio of 98.36. Barracuda Networks Inc has a fifty-two week low of $19.06 and a fifty-two week high of $27.95.

Barracuda Networks (NYSE:CUDA) last issued its earnings results on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.02). The firm had revenue of $94.75 million for the quarter, compared to analyst estimates of $93.85 million. Barracuda Networks had a return on equity of 104.10% and a net margin of 8.21%. equities research analysts forecast that Barracuda Networks Inc will post 0.31 EPS for the current fiscal year.

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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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