Barracuda Networks, Inc. (NYSE:CUDA) SVP Michael D. Hughes sold 1,390 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $21.97, for a total value of $30,538.30. Following the sale, the senior vice president now owns 155,118 shares in the company, valued at approximately $3,407,942.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Barracuda Networks, Inc. (CUDA) traded down $0.12 during trading hours on Wednesday, reaching $27.46. The company’s stock had a trading volume of 688,598 shares, compared to its average volume of 849,511. Barracuda Networks, Inc. has a 1 year low of $19.06 and a 1 year high of $27.75. The firm has a market capitalization of $1,460.00, a price-to-earnings ratio of 88.71, a price-to-earnings-growth 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 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $94.30 million for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.21 earnings per share. sell-side analysts expect that Barracuda Networks, Inc. will post 0.31 earnings per share for the current fiscal year.
Several research firms have weighed in on CUDA. ValuEngine raised Barracuda Networks from a “sell” rating to a “hold” rating in a research note on Monday, November 27th. Needham & Company LLC lowered Barracuda Networks from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Stephens lowered Barracuda Networks from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 28th. BidaskClub upgraded Barracuda Networks from a “strong sell” rating to a “sell” rating in a report on Saturday, October 7th. Finally, Robert W. Baird reiterated a “buy” rating and set a $29.00 price target on shares of Barracuda Networks in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $28.10.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Barracuda Networks by 17.6% during the second 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 in the last quarter. Advisors Asset Management Inc. bought a new position in shares of Barracuda Networks during the second quarter worth about $113,000. Pinebridge Investments L.P. bought a new position in Barracuda Networks in the third quarter valued at approximately $121,000. Legal & General Group Plc grew 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 in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Barracuda Networks in the third quarter valued at approximately $162,000. 75.55% of the stock is currently owned by institutional investors.
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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.
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