Barracuda Networks, Inc. (CUDA) SVP Michael D. Hughes Sells 1,390 Shares

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.

Insider Buying and Selling by Quarter for Barracuda Networks (NYSE:CUDA)

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