First Trust Advisors LP Has $9.41 Million Position in Barracuda Networks, Inc. (CUDA)
First Trust Advisors LP raised its position in shares of Barracuda Networks, Inc. (NYSE:CUDA) by 52.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 408,135 shares of the communications equipment provider’s stock after buying an additional 140,204 shares during the period. First Trust Advisors LP owned about 0.77% of Barracuda Networks worth $9,412,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of CUDA. Gotham Asset Management LLC boosted its position in Barracuda Networks by 2.5% in the first quarter. Gotham Asset Management LLC now owns 35,109 shares of the communications equipment provider’s stock valued at $811,000 after buying an additional 871 shares during the last quarter. Clearbridge Investments LLC boosted its position in Barracuda Networks by 0.8% in the first quarter. Clearbridge Investments LLC now owns 2,034,008 shares of the communications equipment provider’s stock valued at $47,006,000 after buying an additional 16,324 shares during the last quarter. Atria Investments LLC purchased a new position in Barracuda Networks during the second quarter valued at $204,000. Ameriprise Financial Inc. purchased a new position in Barracuda Networks during the first quarter valued at $4,867,000. Finally, American Century Companies Inc. boosted its position in 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 valued at $6,632,000 after buying an additional 8,477 shares during the last quarter. 61.61% of the stock is currently owned by institutional investors and hedge funds.
Barracuda Networks, Inc. (NYSE:CUDA) opened at 22.69 on Friday. Barracuda Networks, Inc. has a 1-year low of $19.06 and a 1-year high of $26.69. The company has a market cap of $1.20 billion, a PE ratio of 119.42 and a beta of 3.30. The company has a 50-day moving average price of $23.18 and a 200-day moving average price of $22.72.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings data on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The business had revenue of $94.18 million for the quarter, compared to the consensus estimate of $91.18 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. On average, analysts expect that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.
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CUDA has been the topic of several research analyst reports. Northland Securities reaffirmed a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a report on Friday, June 30th. Zacks Investment Research cut shares of Barracuda Networks from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Pacific Crest reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Wednesday, June 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Monday, June 26th. Finally, Imperial Capital upped their price target on shares of Barracuda Networks from $20.00 to $21.00 and gave the stock an “in-line” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Barracuda Networks has an average rating of “Buy” and a consensus target price of $26.59.
In other news, VP Diane Honda sold 7,026 shares of the firm’s stock in a transaction dated Saturday, July 1st. The shares were sold at an average price of $22.89, for a total value of $160,825.14. Following the transaction, the vice president now directly owns 100,085 shares of the company’s stock, valued at $2,290,945.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael D. Hughes sold 4,468 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $22.55, for a total transaction of $100,753.40. Following the completion of the transaction, the senior vice president now directly owns 163,875 shares in the company, valued at $3,695,381.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 896,778 shares of company stock worth $21,563,162. 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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