Wasatch Advisors Inc. Buys New Holdings in Barracuda Networks, Inc. (NYSE:CUDA)

Wasatch Advisors Inc. purchased a new position in shares of Barracuda Networks, Inc. (NYSE:CUDA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 76,267 shares of the communications equipment provider’s stock, valued at approximately $1,759,000. Wasatch Advisors Inc. owned about 0.14% of Barracuda Networks at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in Barracuda Networks by 2.8% in the second quarter. California State Teachers Retirement System now owns 44,551 shares of the communications equipment provider’s stock valued at $1,027,000 after acquiring an additional 1,200 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Barracuda Networks in the second quarter valued at approximately $243,000. The Manufacturers Life Insurance Company boosted its holdings in Barracuda Networks by 17.5% in the second quarter. The Manufacturers Life Insurance Company now owns 138,105 shares of the communications equipment provider’s stock valued at $3,186,000 after acquiring an additional 20,572 shares during the last quarter. Bluefin Trading LLC bought a new stake in Barracuda Networks in the second quarter valued at approximately $224,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Barracuda Networks by 17.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock valued at $167,000 after acquiring an additional 1,104 shares during the last quarter. Institutional investors own 65.50% of the company’s stock.

Several brokerages recently commented on CUDA. BidaskClub upgraded Barracuda Networks from a “strong sell” rating to a “sell” rating in a report on Saturday, October 7th. KeyCorp reissued a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Wednesday, October 11th. J P Morgan Chase & Co reissued a “buy” rating and issued a $35.00 price target on shares of Barracuda Networks in a research note on Wednesday, October 11th. Robert W. Baird reissued a “buy” rating and issued a $29.00 price target on shares of Barracuda Networks in a research note on Wednesday, October 11th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Barracuda Networks presently has an average rating of “Buy” and a consensus target price of $28.10.

In other news, SVP Michael D. Hughes sold 2,015 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $22.60, for a total transaction of $45,539.00. Following the sale, the senior vice president now directly owns 155,033 shares in the company, valued at approximately $3,503,745.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael D. Perone sold 598,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $25.72, for a total value of $15,380,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,062,431 shares of company stock valued at $75,302,076 in the last quarter. Company insiders own 13.90% of the company’s stock.

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Shares of Barracuda Networks, Inc. (NYSE CUDA) traded down 0.85% during midday trading on Friday, reaching $23.42. The company had a trading volume of 864,090 shares. The company has a 50-day moving average price of $23.97 and a 200 day moving average price of $22.87. Barracuda Networks, Inc. has a one year low of $19.06 and a one year high of $26.16. The company has a market capitalization of $1.25 billion, a P/E ratio of 137.76 and a beta of 3.27.

Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.17. The business 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 company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Equities analysts anticipate that Barracuda Networks, Inc. will post $0.75 earnings per share for the current fiscal year.

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.

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

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