Insider Selling: Barracuda Networks, Inc. (CUDA) Director Sells 52,706 Shares of Stock
Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 52,706 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $24.21, for a total transaction of $1,276,012.26. Following the completion of the transaction, the director now owns 2,544,290 shares in the company, valued at approximately $61,597,260.90. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Barracuda Networks, Inc. (CUDA) traded up 0.33% during midday trading on Wednesday, hitting $24.40. 503,330 shares of the stock traded hands. The stock has a market cap of $1.29 billion, a PE ratio of 128.42 and a beta of 3.28. The company has a 50-day moving average of $23.35 and a 200-day moving average of $22.70. Barracuda Networks, Inc. has a 12 month low of $19.06 and a 12 month high of $26.69.
Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share for the quarter, hitting the 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 negative return on equity of 1,770.56% and a net margin of 2.81%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. On average, equities research analysts anticipate that Barracuda Networks, Inc. will post $0.76 earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in CUDA. ETF Managers Group LLC acquired a new stake in shares of Barracuda Networks during the second quarter worth about $44,968,000. Systematic Financial Management LP acquired a new stake in shares of Barracuda Networks during the first quarter worth about $40,341,000. Rothschild Asset Management Inc. acquired a new stake in shares of Barracuda Networks during the first quarter worth about $17,256,000. AMI Asset Management Corp acquired a new stake in shares of Barracuda Networks during the second quarter worth about $10,897,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Barracuda Networks by 64.1% during the first quarter. Renaissance Technologies LLC now owns 1,135,695 shares of the communications equipment provider’s stock worth $26,246,000 after purchasing an additional 443,495 shares during the period. 65.98% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on CUDA shares. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Monday, June 26th. Pacific Crest restated an “overweight” rating and set a $30.00 target price on shares of Barracuda Networks in a research note on Wednesday, June 28th. Northland Securities restated a “buy” rating and set a $28.00 target price on shares of Barracuda Networks in a research note on Friday, June 30th. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Finally, Imperial Capital upped 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 analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Barracuda Networks presently has an average rating of “Buy” and an average price target of $26.59.
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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