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.
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.
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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