Barracuda Networks Inc. (CUDA) Major Shareholder Dean M. Drako Sells 58,899 Shares of Stock
Barracuda Networks Inc. (NYSE:CUDA) major shareholder Dean M. Drako sold 58,899 shares of the stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $26.40, for a total value of $1,554,933.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Barracuda Networks Inc. (NYSE:CUDA) opened at 25.52 on Monday. The stock has a market cap of $1.33 billion, a P/E ratio of 638.00 and a beta of 3.60. Barracuda Networks Inc. has a 12 month low of $9.44 and a 12 month high of $26.69. The company has a 50 day moving average price of $24.15 and a 200-day moving average price of $19.29.
Barracuda Networks (NYSE:CUDA) last issued its earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.08. The company earned $87.90 million during the quarter. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 56.63%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. On average, equities research analysts predict that Barracuda Networks Inc. will post $0.57 earnings per share for the current year.
A number of analysts recently commented on the company. JMP Securities reaffirmed a “sell” rating on shares of Barracuda Networks in a research report on Saturday, July 9th. DA Davidson reaffirmed a “neutral” rating and set a $15.50 price target on shares of Barracuda Networks in a research report on Wednesday, July 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a research report on Thursday. Zacks Investment Research raised Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research report on Friday. Finally, Imperial Capital set a $20.00 price target on Barracuda Networks and gave the company a “sell” rating in a research report on Wednesday, October 12th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.58.
Hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. purchased a new position in shares of Barracuda Networks during the first quarter valued at $2,512,000. Spark Investment Management LLC purchased a new position in shares of Barracuda Networks during the first quarter valued at $1,262,000. Primecap Management Co. CA increased its position in shares of Barracuda Networks by 37.6% in the first quarter. Primecap Management Co. CA now owns 915,000 shares of the company’s stock valued at $14,091,000 after buying an additional 250,000 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Barracuda Networks by 1.1% in the first quarter. Geode Capital Management LLC now owns 127,648 shares of the company’s stock valued at $1,964,000 after buying an additional 1,373 shares in the last quarter. Finally, A.R.T. Advisors LLC increased its position in shares of Barracuda Networks by 18.7% in the first quarter. A.R.T. Advisors LLC now owns 103,890 shares of the company’s stock valued at $1,599,000 after buying an additional 16,400 shares in the last quarter. 53.98% of the stock is owned by institutional investors.
About Barracuda Networks
Barracuda Networks, Inc (Barracuda Networks) designs and delivers security and storage solutions. The Company offers cloud-connected solutions for its customers to address security threats, improve network performance and protect and store their data. The Company’s security and storage solutions are connected to its cloud services, which enable continuous software updates, offsite redundancy and distributed capacity, and are offered on a subscription basis.
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