Barracuda Networks Inc. (NYSE:CUDA) major shareholder Dean M. Drako sold 58,899 shares of the stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $26.40, for a total transaction of $1,554,933.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Barracuda Networks Inc. (NYSE:CUDA) opened at 25.52 on Monday. Barracuda Networks Inc. has a 12-month low of $9.44 and a 12-month high of $26.69. The stock has a market cap of $1.33 billion, a PE ratio of 638.00 and a beta of 3.60. The firm has a 50-day moving average of $24.15 and a 200-day moving average of $19.29.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 56.63%. The company earned $87.90 million during the quarter. During the same quarter last year, the firm earned $0.10 EPS. The company’s revenue was up 12.1% on a year-over-year basis. Equities analysts predict that Barracuda Networks Inc. will post $0.57 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of CUDA. Algert Global LLC boosted its position in Barracuda Networks by 242.5% in the third quarter. Algert Global LLC now owns 41,130 shares of the company’s stock valued at $1,048,000 after buying an additional 29,122 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Barracuda Networks by 47.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,644 shares of the company’s stock valued at $1,146,000 after buying an additional 24,436 shares during the period. American Century Companies Inc. purchased a new position in Barracuda Networks during the second quarter valued at approximately $3,356,000. Metropolitan Life Insurance Co. NY purchased a new position in Barracuda Networks during the second quarter valued at approximately $250,000. Finally, Numeric Investors LLC purchased a new position in Barracuda Networks during the second quarter valued at approximately $321,000. Institutional investors own 53.98% of the company’s stock.
A number of equities analysts have recently issued reports on CUDA shares. Imperial Capital reiterated an “in-line” rating and set a $15.00 price objective (down from $16.00) on shares of Barracuda Networks in a research note on Thursday, June 30th. Summit Research started coverage on shares of Barracuda Networks in a research note on Friday, July 1st. They set a “hold” rating on the stock. Summit Redstone reiterated a “hold” rating and set a $15.00 price objective on shares of Barracuda Networks in a research note on Saturday, July 2nd. DA Davidson reiterated a “neutral” rating and set a $15.50 price objective on shares of Barracuda Networks in a research note on Wednesday, July 6th. Finally, Pacific Crest reiterated a “hold” rating on shares of Barracuda Networks in a research note on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Barracuda Networks has an average rating of “Hold” and a consensus target price of $24.58.
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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