Sei Investments Co. trimmed its position in shares of Barracuda Networks, Inc. (NYSE:CUDA) by 11.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 610,124 shares of the communications equipment provider’s stock after selling 76,056 shares during the period. Sei Investments Co. owned about 1.15% of Barracuda Networks worth $14,784,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Barracuda Networks by 109.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 15,474 shares of the communications equipment provider’s stock worth $375,000 after buying an additional 8,100 shares during the period. Scout Investments Inc. purchased a new stake in shares of Barracuda Networks during the third quarter worth approximately $2,642,000. Principal Financial Group Inc. increased its stake in shares of Barracuda Networks by 1,011.8% during the third quarter. Principal Financial Group Inc. now owns 333,588 shares of the communications equipment provider’s stock worth $8,083,000 after buying an additional 303,583 shares during the period. State of Tennessee Treasury Department purchased a new position in Barracuda Networks in the third quarter valued at approximately $617,000. Finally, Wedge Capital Management L L P NC purchased a new position in Barracuda Networks in the third quarter valued at approximately $265,000. Hedge funds and other institutional investors own 65.84% of the company’s stock.

Several equities analysts have commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price target on shares of Barracuda Networks in a research note on Tuesday, September 12th. BTIG Research reiterated a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Saturday, July 22nd. Robert W. Baird reiterated a “buy” rating and issued a $29.00 price target on shares of Barracuda Networks in a research note on Tuesday, October 24th. Zacks Investment Research lowered shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Finally, BidaskClub lowered shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research report on Saturday, November 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Barracuda Networks has a consensus rating of “Buy” and an average target price of $28.10.

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Shares of Barracuda Networks, Inc. (NYSE:CUDA) opened at $22.05 on Friday. Barracuda Networks, Inc. has a fifty-two week low of $19.06 and a fifty-two week high of $26.16. The company has a market capitalization of $1,170.00, a price-to-earnings ratio of 70.07, a price-to-earnings-growth ratio of 5.79 and a beta of 3.22.

Barracuda Networks (NYSE:CUDA) last released its earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The company had revenue of $94.30 million during the quarter, compared to the consensus estimate of $93.32 million. During the same quarter last year, the company earned $0.21 earnings per share. Barracuda Networks’s quarterly revenue was up 7.3% compared to the same quarter last year. research analysts anticipate that Barracuda Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

In other news, Director Michael D. Perone sold 108,258 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $25.77, for a total value of $2,789,808.66. Following the completion of the transaction, the director now owns 1,378,038 shares in the company, valued at $35,512,039.26. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.10, for a total value of $28,875.00. Following the completion of the transaction, the chief financial officer now owns 102,905 shares of the company’s stock, valued at approximately $2,377,105.50. The disclosure for this sale can be found here. In the last three months, insiders sold 2,666,169 shares of company stock valued at $65,785,199. 13.90% of the stock is owned by corporate insiders.

Barracuda Networks 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.

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

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