Barracuda Networks, Inc. (NYSE:CUDA) SVP Michael D. Hughes sold 1,390 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $21.97, for a total value of $30,538.30. Following the completion of the sale, the senior vice president now owns 155,118 shares of the company’s stock, valued at approximately $3,407,942.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Barracuda Networks, Inc. (CUDA) opened at $22.53 on Tuesday. The stock has a market capitalization of $1,174.85, a PE ratio of 71.13, a price-to-earnings-growth ratio of 5.88 and a beta of 3.22. Barracuda Networks, Inc. has a 12 month low of $19.06 and a 12 month high of $26.16.
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $94.30 million during the quarter, compared to the consensus estimate of $93.32 million. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. equities research analysts expect that Barracuda Networks, Inc. will post 0.31 earnings per share for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of Barracuda Networks by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after buying an additional 717 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in Barracuda Networks in the second quarter valued at approximately $113,000. Pinebridge Investments L.P. purchased a new position in Barracuda Networks in the third quarter valued at approximately $121,000. Legal & General Group Plc lifted its stake in Barracuda Networks by 15.7% in the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock valued at $140,000 after purchasing an additional 828 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Barracuda Networks during the 3rd quarter valued at $162,000. Hedge funds and other institutional investors own 68.10% of the company’s stock.
A number of research analysts have issued reports on the company. BidaskClub cut Barracuda Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. KeyCorp reaffirmed a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research report on Wednesday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of Barracuda Networks in a research report on Tuesday, September 12th. J P Morgan Chase & Co reissued a “buy” rating and set a $35.00 price target on shares of Barracuda Networks in a research report on Wednesday, October 11th. Finally, Rosenblatt Securities reissued a “buy” rating on shares of Barracuda Networks in a research report on Sunday, October 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Barracuda Networks currently has an average rating of “Buy” and a consensus target price of $28.10.
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.
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