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.

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

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