Schwab Charles Investment Management Inc. Purchases 90,269 Shares of Barracuda Networks, Inc. (NYSE:CUDA)
Schwab Charles Investment Management Inc. boosted its position in Barracuda Networks, Inc. (NYSE:CUDA) by 89.7% during the first quarter, Holdings Channel reports. The firm owned 190,862 shares of the communications equipment provider’s stock after buying an additional 90,269 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Barracuda Networks were worth $4,411,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of CUDA. Highbridge Capital Management LLC purchased a new stake in Barracuda Networks during the fourth quarter worth $307,000. Ameriprise Financial Inc. bought a new position in shares of Barracuda Networks during the first quarter worth $4,867,000. American Century Companies Inc. increased its position in shares of Barracuda Networks by 3.0% in the first quarter. American Century Companies Inc. now owns 286,968 shares of the communications equipment provider’s stock worth $6,632,000 after buying an additional 8,477 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Barracuda Networks by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 52,327 shares of the communications equipment provider’s stock worth $1,209,000 after buying an additional 621 shares during the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of Barracuda Networks during the first quarter worth $1,539,000. 61.61% of the stock is owned by institutional investors.
Shares of Barracuda Networks, Inc. (CUDA) traded up 1.48% during trading on Monday, reaching $23.98. The company’s stock had a trading volume of 237,642 shares. The firm’s 50-day moving average is $23.02 and its 200 day moving average is $22.72. The company has a market cap of $1.27 billion, a PE ratio of 126.21 and a beta of 3.30. Barracuda Networks, Inc. has a 52-week low of $19.06 and a 52-week high of $26.69.
Barracuda Networks (NYSE:CUDA) last issued its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.18. The firm had revenue of $94.18 million for the quarter, compared to the consensus estimate of $91.18 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. On average, equities research analysts predict that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.
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CUDA has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 price objective on shares of Barracuda Networks in a research note on Tuesday, April 18th. Zacks Investment Research raised Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, July 13th. Pacific Crest reissued an “overweight” rating and issued a $30.00 price objective on shares of Barracuda Networks in a research note on Wednesday, June 28th. TheStreet raised Barracuda Networks from a “d” rating to a “c” rating in a research note on Monday, April 17th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a research note on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Barracuda Networks has a consensus rating of “Buy” and an average price target of $26.59.
In related news, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $22.02, for a total transaction of $27,525.00. Following the sale, the chief financial officer now owns 105,467 shares of the company’s stock, valued at approximately $2,322,383.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael D. Perone sold 403,060 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 3,112,640 shares in the company, valued at approximately $75,108,003.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,516 shares of company stock worth $12,045,698. Company insiders own 13.90% 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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