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.
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