Barracuda Networks, Inc. (NYSE:CUDA) SVP Michael D. Hughes sold 625 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $23.35, for a total value of $14,593.75. Following the transaction, the senior vice president now owns 156,283 shares of the company’s stock, valued at $3,649,208.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Barracuda Networks, Inc. (CUDA) traded up 1.46% during midday trading on Friday, hitting $23.64. The stock had a trading volume of 666,498 shares. The company has a market cap of $1.25 billion, a P/E ratio of 124.42 and a beta of 3.30. The stock has a 50 day moving average of $23.16 and a 200-day moving average of $22.74. Barracuda Networks, Inc. has a one year low of $19.06 and a one year high of $26.69.
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The business had revenue of $94.18 million for the quarter, compared to analysts’ expectations of $91.18 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. Analysts forecast that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. Wasatch Advisors Inc. purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $1,759,000. California State Teachers Retirement System boosted its stake in shares of 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 buying an additional 1,200 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $243,000. The Manufacturers Life Insurance Company boosted its stake in shares of 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 buying an additional 20,572 shares during the last quarter. Finally, Bluefin Trading LLC purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $224,000. Hedge funds and other institutional investors own 61.61% of the company’s stock.
CUDA has been the subject of a number of research analyst reports. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a report on Tuesday, July 11th. Northland Securities restated a “buy” rating and set a $28.00 target price on shares of Barracuda Networks in a report on Friday, June 30th. Rosenblatt Securities restated a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a report on Monday, June 26th. Zacks Investment Research upgraded Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Thursday, July 13th. Finally, BTIG Research restated a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Barracuda Networks currently has an average rating of “Buy” and an average price target of $26.59.
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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