Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone Sells 403,060 Shares
Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 403,060 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $24.13, for a total value of $9,725,837.80. Following the transaction, the director now directly owns 3,112,640 shares of the company’s stock, valued at $75,108,003.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Barracuda Networks, Inc. (CUDA) traded down 1.71% during midday trading on Tuesday, hitting $22.47. The stock had a trading volume of 434,582 shares. The stock has a 50-day moving average of $22.96 and a 200 day moving average of $22.73. Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $26.69. The stock has a market cap of $1.19 billion, a PE ratio of 118.26 and a beta of 3.30.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The firm had revenue of $94.18 million for the quarter, compared to analysts’ expectations of $91.18 million. During the same period last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts anticipate that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.
A number of equities analysts recently issued reports on CUDA shares. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 price objective on shares of Barracuda Networks in a report on Tuesday, April 18th. 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 research report on Thursday, July 13th. Pacific Crest restated an “overweight” rating and issued a $30.00 target price on shares of Barracuda Networks in a research report on Wednesday, June 28th. TheStreet upgraded Barracuda Networks from a “d” rating to a “c” rating in a research report on Monday, April 17th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $26.59.
A number of institutional investors have recently made changes to their positions in the stock. Systematic Financial Management LP acquired a new position in shares of Barracuda Networks during the first quarter worth about $40,341,000. Norges Bank purchased a new position in shares of Barracuda Networks during the fourth quarter worth $20,352,000. Rothschild Asset Management Inc. purchased a new position in shares of Barracuda Networks during the first quarter worth $17,256,000. State of Wisconsin Investment Board purchased a new position in shares of Barracuda Networks during the first quarter worth $10,977,000. Finally, AMI Asset Management Corp purchased a new position in shares of Barracuda Networks during the second quarter worth $10,897,000. 63.70% of the stock is currently owned by hedge funds and other institutional investors.
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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