Barracuda Networks Inc. (NYSE:CUDA) SVP Michael D. Hughes sold 4,468 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $25.05, for a total transaction of $111,923.40. Following the transaction, the senior vice president now directly owns 113,971 shares in the company, valued at approximately $2,854,973.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Barracuda Networks Inc. (NYSE:CUDA) opened at 24.65 on Wednesday. The firm’s 50-day moving average is $23.52 and its 200 day moving average is $18.82. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 616.25 and a beta of 3.61. Barracuda Networks Inc. has a one year low of $9.44 and a one year high of $25.77.
A number of research firms have weighed in on CUDA. JMP Securities reaffirmed a “sell” rating on shares of Barracuda Networks in a research note on Saturday, July 9th. Imperial Capital downgraded shares of Barracuda Networks from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $17.00 to $20.00 in a research note on Tuesday. Vetr downgraded shares of Barracuda Networks from a “buy” rating to a “hold” rating and set a $24.75 target price on the stock. in a research note on Tuesday. Summit Research started coverage on shares of Barracuda Networks in a research note on Friday, July 1st. They issued a “hold” rating on the stock. Finally, Summit Redstone reissued a “hold” rating and issued a $15.00 target price on shares of Barracuda Networks in a research note on Saturday, July 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $20.72.
Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock valued at $107,000 after buying an additional 4,698 shares during the last quarter. BlackRock Advisors LLC boosted its position in Barracuda Networks by 60.8% in the second quarter. BlackRock Advisors LLC now owns 10,312 shares of the company’s stock valued at $156,000 after buying an additional 3,900 shares during the last quarter. AHL Partners LLP bought a new position in Barracuda Networks during the second quarter valued at approximately $158,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in Barracuda Networks during the second quarter valued at approximately $179,000. Finally, Algert Global LLC bought a new position in Barracuda Networks during the second quarter valued at approximately $182,000. Hedge funds and other institutional investors own 54.20% of the company’s stock.
Barracuda Networks Company Profile
Barracuda Networks, Inc (Barracuda Networks) designs and delivers security and storage solutions. The Company offers cloud-connected solutions for its customers to address security threats, improve network performance and protect and store their data. The Company’s security and storage solutions are connected to its cloud services, which enable continuous software updates, offsite redundancy and distributed capacity, and are offered on a subscription basis.
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