Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 50,171 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $24.29, for a total value of $1,218,653.59. Following the sale, the director now owns 2,694,923 shares of the company’s stock, valued at approximately $65,459,679.67. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of Barracuda Networks, Inc. (NYSE:CUDA) traded down 0.12% during midday trading on Friday, reaching $24.11. The company’s stock had a trading volume of 388,177 shares. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 126.89 and a beta of 3.28. Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $26.69. The company has a 50 day moving average of $23.28 and a 200-day moving average of $22.70.

Barracuda Networks (NYSE:CUDA) last announced its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 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 business had revenue of $94.18 million during the quarter, compared to analysts’ expectations of $91.18 million. During the same period in the prior year, the company earned $0.20 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts predict that Barracuda Networks, Inc. will post $0.76 earnings per share for the current year.

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Several large investors have recently made changes to their positions in CUDA. ETF Managers Group LLC purchased a new stake in shares of Barracuda Networks in the second quarter valued at about $44,968,000. Systematic Financial Management LP purchased a new stake in shares of Barracuda Networks in the first quarter valued at about $40,341,000. Rothschild Asset Management Inc. purchased a new stake in shares of Barracuda Networks in the first quarter valued at about $17,256,000. State of Wisconsin Investment Board purchased a new stake in shares of Barracuda Networks in the first quarter valued at about $10,977,000. Finally, AMI Asset Management Corp purchased a new stake in shares of Barracuda Networks in the second quarter valued at about $10,897,000. 65.98% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on the company. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Northland Securities restated a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a research note on Friday, June 30th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Monday, June 26th. 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 note on Thursday, July 13th. Finally, BTIG Research restated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.59.

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.

Insider Buying and Selling by Quarter for Barracuda Networks (NYSE:CUDA)

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