Barracuda Networks Inc. (CUDA) Major Shareholder Sells $2,698,955.70 in Stock
Barracuda Networks Inc. (NYSE:CUDA) major shareholder Dean M. Drako sold 111,758 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $24.15, for a total transaction of $2,698,955.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Barracuda Networks Inc. (NYSE:CUDA) opened at 24.08 on Monday. The company’s 50-day moving average price is $24.11 and its 200 day moving average price is $20.43. The company has a market capitalization of $1.26 billion, a PE ratio of 185.23 and a beta of 3.62. 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 results on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 56.63% and a net margin of 2.03%. The company earned $87.90 million during the quarter. During the same period last year, the business earned $0.10 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts anticipate that Barracuda Networks Inc. will post $0.69 EPS for the current year.
Large investors have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. increased its stake in Barracuda Networks by 4,341.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 182,100 shares of the company’s stock worth $4,639,000 after buying an additional 178,000 shares during the period. Gotham Asset Management LLC purchased a new stake in Barracuda Networks during the third quarter worth $769,000. The Manufacturers Life Insurance Company purchased a new stake in Barracuda Networks during the third quarter worth $2,570,000. Two Sigma Advisers LP increased its stake in Barracuda Networks by 138.1% in the third quarter. Two Sigma Advisers LP now owns 40,000 shares of the company’s stock worth $1,019,000 after buying an additional 23,200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Barracuda Networks by 8,236.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,841 shares of the company’s stock worth $506,000 after buying an additional 19,603 shares during the period. 57.03% of the stock is owned by institutional investors.
A number of research firms have issued reports on CUDA. Zacks Investment Research upgraded shares of Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a report on Friday, October 14th. Imperial Capital restated an “underweight” rating on shares of Barracuda Networks in a report on Thursday, October 13th. DA Davidson set a $22.00 target price on shares of Barracuda Networks and gave the company a “sell” rating in a report on Wednesday, October 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research note on Thursday, October 13th. Finally, Stephens reaffirmed a “neutral” rating and set a $24.00 price objective (up previously from $18.00) on shares of Barracuda Networks in a research note on Thursday, October 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.98.
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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