Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Buys New Position in Barracuda Networks Inc (CUDA)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Barracuda Networks Inc (NYSE:CUDA) during the fourth quarter, Holdings Channel reports. The fund bought 250,000 shares of the communications equipment provider’s stock, valued at approximately $6,875,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pinebridge Investments L.P. purchased a new position in Barracuda Networks during the 3rd quarter valued at about $121,000. LS Investment Advisors LLC lifted its position in Barracuda Networks by 264.7% during the 4th quarter. LS Investment Advisors LLC now owns 5,015 shares of the communications equipment provider’s stock valued at $138,000 after acquiring an additional 3,640 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in Barracuda Networks during the 3rd quarter valued at about $162,000. Piedmont Investment Advisors LLC purchased a new position in Barracuda Networks during the 3rd quarter valued at about $212,000. Finally, American Capital Management Inc. purchased a new position in Barracuda Networks during the 4th quarter valued at about $231,000. 75.84% of the stock is currently owned by hedge funds and other institutional investors.

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CUDA stock opened at $27.54 on Friday. Barracuda Networks Inc has a twelve month low of $19.06 and a twelve month high of $27.95. The firm has a market cap of $1,480.00 and a P/E ratio of 98.36.

Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). Barracuda Networks had a net margin of 8.21% and a return on equity of 104.10%. The company had revenue of $94.75 million for the quarter, compared to analysts’ expectations of $93.85 million. analysts anticipate that Barracuda Networks Inc will post 0.31 EPS for the current fiscal year.

A number of brokerages recently issued reports on CUDA. Zacks Investment Research cut shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. Imperial Capital lifted their price target on shares of Barracuda Networks from $22.00 to $27.55 and gave the company a “line” rating in a research report on Wednesday, January 10th. Robert W. Baird cut shares of Barracuda Networks from an “outperform” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Tuesday, January 9th. JPMorgan Chase & Co. cut shares of Barracuda Networks from an “overweight” rating to a “neutral” rating and set a $27.55 target price for the company. in a report on Tuesday, December 12th. Finally, Stephens cut shares of Barracuda Networks from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $28.32.

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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.

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

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