Swiss National Bank increased its stake in Barracuda Networks, Inc. (NYSE:CUDA) by 51.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,500 shares of the communications equipment provider’s stock after purchasing an additional 21,000 shares during the quarter. Swiss National Bank owned about 0.12% of Barracuda Networks worth $1,418,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Asset Management One Co. Ltd. lifted its holdings in Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after purchasing an additional 177 shares during the period. Renaissance Group LLC lifted its holdings in Barracuda Networks by 2.5% in the second quarter. Renaissance Group LLC now owns 14,118 shares of the communications equipment provider’s stock worth $326,000 after purchasing an additional 343 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Barracuda Networks by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 52,327 shares of the communications equipment provider’s stock worth $1,209,000 after purchasing an additional 621 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in Barracuda Networks by 2.0% in the first quarter. Parametric Portfolio Associates LLC now owns 33,590 shares of the communications equipment provider’s stock worth $776,000 after purchasing an additional 655 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Barracuda Networks by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after purchasing an additional 717 shares during the period. 65.96% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on CUDA shares. Zacks Investment Research raised shares of Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, July 13th. BidaskClub raised shares of Barracuda Networks from a “strong sell” rating to a “sell” rating in a report on Friday, September 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a report on Monday. Pacific Crest reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Barracuda Networks in a report on Wednesday, June 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Barracuda Networks in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.59.

In other Barracuda Networks news, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $22.63, for a total transaction of $28,287.50. Following the transaction, the chief financial officer now owns 105,471 shares in the company, valued at $2,386,808.73. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael D. Perone sold 54,054 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $24.51, for a total value of $1,324,863.54. Following the transaction, the director now owns 1,625,793 shares in the company, valued at approximately $39,848,186.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,354,783 shares of company stock worth $57,100,375. Company insiders own 13.90% of the company’s stock.

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Shares of Barracuda Networks, Inc. (CUDA) opened at 25.74 on Wednesday. The firm has a 50-day moving average of $24.20 and a 200-day moving average of $22.91. The firm has a market capitalization of $1.36 billion, a P/E ratio of 135.47 and a beta of 3.27. Barracuda Networks, Inc. has a one year low of $19.06 and a one year high of $26.69.

Barracuda Networks (NYSE:CUDA) last issued its earnings results on Monday, October 9th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.17. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The firm had revenue of $94.30 million for the quarter, compared to analysts’ expectations of $93.32 million. During the same quarter last year, the business earned $0.21 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that Barracuda Networks, Inc. will post $0.76 earnings per share for the current fiscal year.

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

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