Bank of New York Mellon Corp raised its position in Barracuda Networks, Inc. (NYSE:CUDA) by 27.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 156,269 shares of the communications equipment provider’s stock after acquiring an additional 34,037 shares during the period. Bank of New York Mellon Corp owned about 0.30% of Barracuda Networks worth $3,603,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in Barracuda Networks in the 2nd quarter valued at approximately $113,000. Asset Management One Co. Ltd. lifted its stake in Barracuda Networks by 2.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock valued at $146,000 after acquiring an additional 177 shares in the last quarter. US Bancorp DE lifted its stake in Barracuda Networks by 170.8% in the 1st quarter. US Bancorp DE now owns 8,226 shares of the communications equipment provider’s stock valued at $191,000 after acquiring an additional 5,188 shares in the last quarter. Atria Investments LLC bought a new stake in Barracuda Networks in the 2nd quarter valued at approximately $204,000. Finally, Crow Point Partners LLC bought a new stake in Barracuda Networks in the 2nd quarter valued at approximately $205,000. Hedge funds and other institutional investors own 65.96% of the company’s stock.

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Shares of Barracuda Networks, Inc. (CUDA) opened at 25.91 on Monday. The company has a 50-day moving average price of $24.07 and a 200-day moving average price of $22.87. The company has a market cap of $1.37 billion, a PE ratio of 136.37 and a beta of 3.27. Barracuda Networks, Inc. has a 1-year low of $19.06 and a 1-year 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 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. The business had revenue of $94.18 million for the quarter, compared to analyst estimates of $91.18 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. Barracuda Networks’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share. Equities research analysts expect that Barracuda Networks, Inc. will post $0.76 earnings per share for the current fiscal year.

In other Barracuda Networks news, CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $22.63, for a total value of $28,287.50. Following the sale, the chief financial officer now directly owns 105,471 shares in the company, valued at $2,386,808.73. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael D. Perone sold 54,054 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $24.51, for a total value of $1,324,863.54. Following the completion of the sale, the director now owns 1,625,793 shares in the company, valued at $39,848,186.43. The disclosure for this sale can be found here. Insiders have sold 2,354,783 shares of company stock worth $57,100,375 over the last quarter. 13.90% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on CUDA. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price objective on shares of Barracuda Networks in a research note on Tuesday, September 12th. Piper Jaffray Companies reiterated an “overweight” rating and set a $28.00 price objective (down previously from $29.00) on shares of Barracuda Networks in a research note on Wednesday, July 12th. Robert W. Baird reiterated a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Pacific Crest reiterated an “overweight” rating and set a $30.00 price objective on shares of Barracuda Networks in a research note on Wednesday, June 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research note on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price 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.

Institutional Ownership by Quarter for Barracuda Networks (NYSE:CUDA)

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