Spark Investment Management LLC continued to hold its position in Barracuda Networks, Inc. (NYSE:CUDA) during the second quarter, Holdings Channel reports. The institutional investor owned 30,100 shares of the communications equipment provider’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Barracuda Networks were worth $694,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC increased its position in Barracuda Networks by 0.5% in the first quarter. Chicago Equity Partners LLC now owns 37,740 shares of the communications equipment provider’s stock worth $872,000 after buying an additional 170 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 177 shares during the last quarter. Acrospire Investment Management LLC increased its position in Barracuda Networks by 9.5% in the first quarter. Acrospire Investment Management LLC now owns 6,900 shares of the communications equipment provider’s stock worth $159,000 after buying an additional 600 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Barracuda Networks by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 52,327 shares of the communications equipment provider’s stock worth $1,209,000 after buying an additional 621 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Barracuda Networks by 2.0% in the first quarter. Parametric Portfolio Associates LLC now owns 33,590 shares of the communications equipment provider’s stock worth $776,000 after buying an additional 655 shares during the last quarter. Institutional investors own 63.70% of the company’s stock.

Shares of Barracuda Networks, Inc. (NYSE:CUDA) opened at 23.63 on Friday. Barracuda Networks, Inc. has a 1-year low of $19.06 and a 1-year high of $26.69. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 124.37 and a beta of 3.30. The stock has a 50 day moving average of $23.02 and a 200 day moving average of $22.72.

Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $94.18 million during the quarter, compared to analyst estimates of $91.18 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. Barracuda Networks’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 EPS. On average, equities analysts forecast that Barracuda Networks, Inc. will post $0.76 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This report was originally published by Watch List News and is the property of of Watch List News. If you are viewing this report on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this report can be viewed at https://www.watchlistnews.com/spark-investment-management-llc-has-694000-stake-in-barracuda-networks-inc-nysecuda/1476729.html.

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Barracuda Networks in a research report on Wednesday, April 19th. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a research report on Wednesday, April 19th. BidaskClub downgraded shares of Barracuda Networks from a “sell” rating to a “strong sell” rating in a research report on Friday. Northland Securities reiterated a “buy” rating and set a $28.00 target price on shares of Barracuda Networks in a research report on Friday, June 30th. Finally, DA Davidson dropped their target price on shares of Barracuda Networks from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Barracuda Networks has an average rating of “Buy” and a consensus price target of $26.59.

In other news, VP Diane Honda sold 7,026 shares of Barracuda Networks stock in a transaction dated Saturday, July 1st. The stock was sold at an average price of $22.89, for a total value of $160,825.14. Following the completion of the transaction, the vice president now owns 100,085 shares of the company’s stock, valued at approximately $2,290,945.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Dustin Driggs sold 1,250 shares of Barracuda Networks stock in a transaction dated 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 transaction, the chief financial officer now directly owns 105,471 shares of the company’s stock, valued at approximately $2,386,808.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 501,766 shares of company stock valued at $12,073,560. 13.90% of the stock is owned by insiders.

Barracuda Networks Company 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.

Want to see what other hedge funds are holding CUDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Barracuda Networks, Inc. (NYSE:CUDA).

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

Receive News & Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.