Barracuda Networks, Inc. (CUDA) Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Barracuda Networks, Inc. (NYSE:CUDA) by 5,210.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,380 shares of the communications equipment provider’s stock after purchasing an additional 41,582 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of Barracuda Networks worth $1,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Barracuda Networks by 19.0% during the first quarter. Vanguard Group Inc. now owns 2,729,373 shares of the communications equipment provider’s stock valued at $63,075,000 after purchasing an additional 436,541 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Barracuda Networks by 89.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 190,862 shares of the communications equipment provider’s stock valued at $4,411,000 after purchasing an additional 90,269 shares during the period. Credit Suisse AG lifted its position in Barracuda Networks by 84.0% during the first quarter. Credit Suisse AG now owns 33,638 shares of the communications equipment provider’s stock valued at $777,000 after purchasing an additional 15,353 shares during the period. US Bancorp DE lifted its position in Barracuda Networks by 33.5% during the second quarter. US Bancorp DE now owns 10,980 shares of the communications equipment provider’s stock valued at $253,000 after purchasing an additional 2,754 shares during the period. Finally, Rothschild Asset Management Inc. lifted its position in Barracuda Networks by 13.8% during the second quarter. Rothschild Asset Management Inc. now owns 849,828 shares of the communications equipment provider’s stock valued at $19,597,000 after purchasing an additional 103,154 shares during the period. 75.79% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Dustin Driggs sold 1,250 shares of the firm’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 sale, the chief financial officer now directly owns 102,905 shares in the company, valued at approximately $2,377,105.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael D. Hughes sold 1,390 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $21.97, for a total transaction of $30,538.30. Following the completion of the sale, the senior vice president now owns 155,118 shares in the company, valued at $3,407,942.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,879,289 shares of company stock worth $46,711,195. 13.90% of the stock is owned by company insiders.

CUDA has been the subject of a number of analyst reports. J P Morgan Chase & Co reiterated a “buy” rating and issued a $35.00 price objective on shares of Barracuda Networks in a research report on Wednesday, October 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price objective on shares of Barracuda Networks in a research report on Tuesday, September 12th. BidaskClub upgraded shares of Barracuda Networks from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. KeyCorp restated a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a research report on Friday, November 10th. Finally, Rosenblatt Securities downgraded shares of Barracuda Networks from a “buy” rating to a “neutral” rating in a research report on Monday, November 27th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $27.60.

Shares of Barracuda Networks, Inc. (CUDA) opened at $27.57 on Wednesday. The firm has a market cap of $1,480.00, a P/E ratio of 89.07, a PEG ratio of 7.36 and a beta of 3.28. Barracuda Networks, Inc. has a one year low of $19.06 and a one year high of $27.75.

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

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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.

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

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