Municipal Employees Retirement System of Michigan Purchases Shares of 15,150 Barracuda Networks, Inc. (CUDA)

Municipal Employees Retirement System of Michigan purchased a new stake in Barracuda Networks, Inc. (NYSE:CUDA) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,150 shares of the communications equipment provider’s stock, valued at approximately $367,000.

Other hedge funds have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its stake in Barracuda Networks by 89.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 190,862 shares of the communications equipment provider’s stock worth $4,411,000 after buying an additional 90,269 shares in the last quarter. Credit Suisse AG grew its stake in Barracuda Networks by 84.0% during the first quarter. Credit Suisse AG now owns 33,638 shares of the communications equipment provider’s stock worth $777,000 after buying an additional 15,353 shares in the last quarter. US Bancorp DE grew its stake in Barracuda Networks by 33.5% during the second quarter. US Bancorp DE now owns 10,980 shares of the communications equipment provider’s stock worth $253,000 after buying an additional 2,754 shares in the last quarter. First Trust Advisors LP grew its stake in Barracuda Networks by 52.3% during the second quarter. First Trust Advisors LP now owns 408,135 shares of the communications equipment provider’s stock worth $9,412,000 after buying an additional 140,204 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Barracuda Networks by 11.5% during the second quarter. Rhumbline Advisers now owns 26,330 shares of the communications equipment provider’s stock worth $607,000 after buying an additional 2,718 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

A number of equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Barracuda Networks from a “sell” rating to a “hold” rating in a research note on Monday, November 27th. Needham & Company LLC downgraded shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Stephens downgraded shares of Barracuda Networks from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 28th. BidaskClub upgraded shares of Barracuda Networks from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 7th. Finally, Robert W. Baird reiterated a “buy” rating and set a $29.00 price objective on shares of Barracuda Networks in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.10.

In related news, SVP Michael D. Hughes sold 1,390 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $21.97, for a total value of $30,538.30. Following the completion of the transaction, the senior vice president now owns 155,118 shares in the company, valued at approximately $3,407,942.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael D. Perone sold 108,258 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $25.77, for a total transaction of $2,789,808.66. Following the completion of the transaction, the director now owns 1,378,038 shares of the company’s stock, valued at approximately $35,512,039.26. The disclosure for this sale can be found here. Insiders sold 2,243,847 shares of company stock valued at $55,560,918 in the last three months. Company insiders own 13.90% of the company’s stock.

Barracuda Networks, Inc. (NYSE CUDA) opened at $27.53 on Friday. The company has a market cap of $1,475.72, a PE ratio of 88.81, a PEG ratio of 7.34 and a beta of 3.28. Barracuda Networks, Inc. has a fifty-two week low of $19.06 and a fifty-two week high of $27.75.

Barracuda Networks (NYSE:CUDA) last posted its earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $94.30 million during the quarter, compared to analysts’ expectations of $93.32 million. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. 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 earned $0.21 earnings per share. equities analysts anticipate that Barracuda Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

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Barracuda Networks 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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