Comerica Bank bought a new stake in shares of Barracuda Networks, Inc. (NYSE:CUDA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 42,567 shares of the communications equipment provider’s stock, valued at approximately $980,000. Comerica Bank owned 0.08% of Barracuda Networks as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. AlphaMark Advisors LLC grew its stake in Barracuda Networks by 63.7% in the second quarter. AlphaMark Advisors LLC now owns 44,200 shares of the communications equipment provider’s stock worth $1,019,000 after purchasing an additional 17,200 shares during the period. Dimensional Fund Advisors LP grew its stake in Barracuda Networks by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,393,043 shares of the communications equipment provider’s stock worth $32,123,000 after purchasing an additional 129,425 shares during the period. Swiss National Bank grew its stake in Barracuda Networks by 51.9% in the second quarter. Swiss National Bank now owns 61,500 shares of the communications equipment provider’s stock worth $1,418,000 after purchasing an additional 21,000 shares during the period. Vanguard Group Inc. grew its stake in Barracuda Networks by 7.5% in the second quarter. Vanguard Group Inc. now owns 2,934,104 shares of the communications equipment provider’s stock worth $67,660,000 after purchasing an additional 204,731 shares during the period. Finally, Balyasny Asset Management LLC grew its stake in Barracuda Networks by 517.0% in the second quarter. Balyasny Asset Management LLC now owns 89,942 shares of the communications equipment provider’s stock worth $2,074,000 after purchasing an additional 75,365 shares during the period. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

CUDA has been the topic of several recent research reports. Zacks Investment Research cut Barracuda Networks from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. BidaskClub raised Barracuda Networks from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Friday, November 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price target on shares of Barracuda Networks in a research note on Tuesday, September 12th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $29.00 price target on shares of Barracuda Networks in a research note on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.10.

Shares of Barracuda Networks, Inc. (NYSE CUDA) opened at $27.55 on Monday. Barracuda Networks, Inc. has a 12 month low of $19.06 and a 12 month high of $27.75. The company has a market capitalization of $1,474.64, a price-to-earnings ratio of 88.74, a PEG ratio of 7.34 and a beta of 3.28.

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

In other news, SVP Michael D. Hughes sold 1,390 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $21.97, for a total transaction of $30,538.30. Following the transaction, the senior vice president now directly owns 155,118 shares of the company’s stock, valued at $3,407,942.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dustin Driggs sold 1,250 shares of the company’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 transaction, the chief financial officer now directly owns 102,905 shares in the company, valued at $2,377,105.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,649,809 shares of company stock worth $65,389,370. Insiders own 13.90% of the company’s stock.

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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.

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

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