Insider Selling: Barracuda Networks Inc. (CUDA) Major Shareholder Sells 153,238 Shares of Stock
Barracuda Networks Inc. (NYSE:CUDA) major shareholder Dean M. Drako sold 153,238 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $24.16, for a total value of $3,702,230.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Barracuda Networks Inc. (NYSE:CUDA) traded up 0.96% during midday trading on Monday, reaching $24.31. The company’s stock had a trading volume of 309,855 shares. The stock has a market capitalization of $1.27 billion, a P/E ratio of 187.00 and a beta of 3.62. The stock’s 50-day moving average is $23.96 and its 200 day moving average is $20.79. Barracuda Networks Inc. has a 12 month low of $9.44 and a 12 month high of $26.69.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $87.90 million for the quarter. During the same quarter in the prior year, the firm posted $0.10 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts expect that Barracuda Networks Inc. will post $0.69 earnings per share for the current fiscal year.
Several analysts have recently issued reports on CUDA shares. Robert W. Baird started coverage on Barracuda Networks in a research report on Monday, November 14th. They issued an “outperform” rating and a $29.00 price objective on the stock. Imperial Capital restated an “underweight” rating on shares of Barracuda Networks in a research report on Thursday, October 13th. Pacific Crest upgraded Barracuda Networks from a “sector weight” rating to an “overweight” rating and upped their price objective for the company from $23.27 to $30.00 in a research report on Tuesday, August 30th. Vetr upgraded Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.02 target price on the stock in a research report on Tuesday, October 18th. Finally, DA Davidson set a $20.00 target price on Barracuda Networks and gave the stock a “sell” rating in a research report on Tuesday, October 4th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $24.98.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its stake in Barracuda Networks by 0.7% in the second quarter. Parametric Portfolio Associates LLC now owns 38,620 shares of the company’s stock worth $585,000 after buying an additional 271 shares during the last quarter. California State Teachers Retirement System boosted its stake in Barracuda Networks by 0.9% in the third quarter. California State Teachers Retirement System now owns 46,551 shares of the company’s stock worth $1,186,000 after buying an additional 400 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Barracuda Networks by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 84,041 shares of the company’s stock worth $2,142,000 after buying an additional 2,596 shares during the last quarter. BlackRock Advisors LLC boosted its stake in Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock worth $156,000 after buying an additional 3,900 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock worth $107,000 after buying an additional 4,698 shares during the last quarter. Institutional investors and hedge funds own 57.03% of the company’s stock.
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.
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