Michael D. Hughes Sells 625 Shares of Barracuda Networks, Inc. (CUDA) Stock

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.

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

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