Dean M. Drako Sells 17,116 Shares of Barracuda Networks Inc. (CUDA) Stock
Barracuda Networks Inc. (NYSE:CUDA) major shareholder Dean M. Drako sold 17,116 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $24.40, for a total transaction of $417,630.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Barracuda Networks Inc. (NYSE:CUDA) opened at 24.24 on Friday. The stock has a market cap of $1.27 billion, a PE ratio of 186.46 and a beta of 3.62. The stock has a 50 day moving average of $24.02 and a 200-day moving average of $20.62. Barracuda Networks Inc. has a 52 week low of $9.44 and a 52 week high of $26.69.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The company had revenue of $87.90 million for the quarter. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 56.63%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. Equities research analysts predict that Barracuda Networks Inc. will post $0.69 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Barracuda Networks during the second quarter valued at $6,264,000. DIAM Co. Ltd. purchased a new position in shares of Barracuda Networks during the second quarter valued at $208,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Barracuda Networks during the second quarter valued at $215,000. Swiss National Bank increased its position in shares of Barracuda Networks by 54.1% in the second quarter. Swiss National Bank now owns 45,000 shares of the company’s stock valued at $681,000 after buying an additional 15,800 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Barracuda Networks by 164.5% in the second quarter. California State Teachers Retirement System now owns 46,151 shares of the company’s stock valued at $699,000 after buying an additional 28,704 shares in the last quarter. 55.42% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the stock. Vetr cut shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 target price on the stock. in a research note on Monday, September 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Thursday, October 13th. JMP Securities boosted their target price on shares of Barracuda Networks from $13.00 to $15.00 and gave the company a “market underperform” rating in a research note on Wednesday, October 12th. Stifel Nicolaus boosted their price target on shares of Barracuda Networks from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, October 12th. Finally, BWS Financial boosted their price target on shares of Barracuda Networks from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 12th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Barracuda Networks currently has a consensus rating of “Buy” and an average price target of $24.98.
About Barracuda Networks
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.
Receive News & Stock Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related stocks with our FREE daily email newsletter.