Insider Selling: Barracuda Networks, Inc. (CUDA) Director Sells 47,756 Shares of Stock
Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 47,756 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $24.20, for a total transaction of $1,155,695.20. Following the transaction, the director now owns 2,694,923 shares of the company’s stock, valued at approximately $65,217,136.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Barracuda Networks, Inc. (NYSE CUDA) traded down 0.12% during mid-day trading on Friday, hitting $24.11. 388,177 shares of the company were exchanged. Barracuda Networks, Inc. has a 12-month low of $19.06 and a 12-month high of $26.69. The firm has a market capitalization of $1.28 billion, a P/E ratio of 126.89 and a beta of 3.28. The company’s 50-day moving average price is $23.28 and its 200-day moving average price is $22.70.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Monday, July 10th. The communications equipment provider reported $0.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The business had revenue of $94.18 million during 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 firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. Equities research analysts predict that Barracuda Networks, Inc. will post $0.76 earnings per share for the current fiscal year.
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A number of research analysts have recently issued reports on CUDA shares. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 target price on shares of Barracuda Networks in a research note on Wednesday, July 19th. Northland Securities reiterated a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a research note on Friday, June 30th. BTIG Research reiterated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Thursday, July 13th. Finally, Imperial Capital lifted their target price on shares of Barracuda Networks from $20.00 to $21.00 and gave the company an “in-line” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $26.59.
A number of large investors have recently modified their holdings of CUDA. ETF Managers Group LLC bought a new position in Barracuda Networks in the 2nd quarter valued at approximately $44,968,000. Systematic Financial Management LP bought a new position in Barracuda Networks in the 1st quarter valued at approximately $40,341,000. Rothschild Asset Management Inc. bought a new position in Barracuda Networks in the 1st quarter valued at approximately $17,256,000. State of Wisconsin Investment Board bought a new position in Barracuda Networks in the 1st quarter valued at approximately $10,977,000. Finally, AMI Asset Management Corp bought a new position in Barracuda Networks in the 2nd quarter valued at approximately $10,897,000. 65.98% of the stock is owned by institutional investors and hedge funds.
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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