Barracuda Networks, Inc. (NYSE:CUDA) SVP Michael D. Hughes Sells 2,015 Shares

Barracuda Networks, Inc. (NYSE:CUDA) SVP Michael D. Hughes sold 2,015 shares of the stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $22.60, for a total value of $45,539.00. Following the sale, the senior vice president now directly owns 155,033 shares of the company’s stock, valued at $3,503,745.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Barracuda Networks, Inc. (NYSE:CUDA) traded down 0.85% during trading on Friday, reaching $23.42. The company’s stock had a trading volume of 864,090 shares. The stock’s 50 day moving average price is $23.97 and its 200-day moving average price is $22.87. Barracuda Networks, Inc. has a 52-week low of $19.06 and a 52-week high of $26.16. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 137.76 and a beta of 3.27.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $94.30 million during the quarter, compared to analyst estimates of $93.32 million. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. Equities analysts anticipate that Barracuda Networks, Inc. will post $0.75 EPS for the current year.

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Several brokerages have issued reports on CUDA. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $35.00 price target on shares of Barracuda Networks in a report on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target on shares of Barracuda Networks in a report on Tuesday, September 12th. Piper Jaffray Companies restated an “overweight” rating and issued a $28.00 price target (down previously from $29.00) on shares of Barracuda Networks in a research report on Wednesday, July 12th. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded Barracuda Networks from a “sell” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $28.10.

A number of hedge funds have recently modified their holdings of the stock. First Trust Advisors LP raised its stake in Barracuda Networks by 4.4% in the 3rd quarter. First Trust Advisors LP now owns 426,068 shares of the communications equipment provider’s stock worth $10,324,000 after acquiring an additional 17,933 shares during the last quarter. Exane Derivatives grew its position in Barracuda Networks by 1,004.9% during the 3rd quarter. Exane Derivatives now owns 7,624 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 6,934 shares during the period. Crow Point Partners LLC grew its position in Barracuda Networks by 94.1% during the 3rd quarter. Crow Point Partners LLC now owns 17,548 shares of the communications equipment provider’s stock worth $422,000 after purchasing an additional 8,506 shares during the period. Wasatch Advisors Inc. acquired a new stake in Barracuda Networks during the 2nd quarter worth about $1,759,000. Finally, California State Teachers Retirement System grew its position in Barracuda Networks by 2.8% during the 2nd quarter. California State Teachers Retirement System now owns 44,551 shares of the communications equipment provider’s stock worth $1,027,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 65.50% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Barracuda Networks (NYSE:CUDA)

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