Insider Selling: Barracuda Networks, Inc. (CUDA) CEO Sells 16,500 Shares of Stock

Barracuda Networks, Inc. (NYSE:CUDA) CEO William D. Jenkins, Jr. sold 16,500 shares of Barracuda Networks stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $24.02, for a total transaction of $396,330.00. Following the completion of the transaction, the chief executive officer now directly owns 588,108 shares in the company, valued at $14,126,354.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Barracuda Networks, Inc. (CUDA) opened at 24.32 on Wednesday. The stock has a market capitalization of $1.29 billion, a PE ratio of 128.00 and a beta of 3.28. The company’s 50 day moving average is $23.32 and its 200-day moving average is $22.70. Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $26.69.

Barracuda Networks (NYSE:CUDA) last posted 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 firm had revenue of $94.18 million for the quarter, compared to analysts’ expectations of $91.18 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. On average, equities analysts predict that Barracuda Networks, Inc. will post $0.76 earnings per share for the current year.

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Several brokerages recently weighed in on CUDA. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Barracuda Networks in a research note on Tuesday. Stifel Nicolaus restated a “buy” rating and issued a $32.00 target price on shares of Barracuda Networks in a report on Tuesday. BidaskClub upgraded shares of Barracuda Networks from a “strong sell” rating to a “sell” rating in a report on Friday, September 8th. Robert W. Baird reiterated a “buy” rating on shares of Barracuda Networks in a report on Tuesday, July 11th. Finally, BTIG Research reiterated a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Barracuda Networks currently has a consensus rating of “Buy” and a consensus price target of $26.59.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chicago Equity Partners LLC grew its holdings in shares of Barracuda Networks by 0.5% in the first quarter. Chicago Equity Partners LLC now owns 37,740 shares of the communications equipment provider’s stock worth $872,000 after purchasing an additional 170 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Barracuda Networks by 2.9% during the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock valued at $146,000 after buying an additional 177 shares during the last quarter. Renaissance Group LLC lifted its position in shares of Barracuda Networks by 2.5% during the second quarter. Renaissance Group LLC now owns 14,118 shares of the communications equipment provider’s stock valued at $326,000 after buying an additional 343 shares during the last quarter. Acrospire Investment Management LLC lifted its position in shares of Barracuda Networks by 9.5% during the first quarter. Acrospire Investment Management LLC now owns 6,900 shares of the communications equipment provider’s stock valued at $159,000 after buying an additional 600 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Barracuda Networks by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 52,327 shares of the communications equipment provider’s stock valued at $1,209,000 after buying an additional 621 shares during the last quarter. Hedge funds and other institutional investors own 65.98% of the company’s stock.

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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