Barracuda Networks Inc (CUDA) Holdings Cut by BlackRock Inc.

BlackRock Inc. decreased its holdings in shares of Barracuda Networks Inc (NYSE:CUDA) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,401,400 shares of the communications equipment provider’s stock after selling 201,552 shares during the period. BlackRock Inc. owned approximately 8.20% of Barracuda Networks worth $121,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CUDA. California State Teachers Retirement System grew its holdings in shares of Barracuda Networks by 2.8% in the 2nd quarter. California State Teachers Retirement System now owns 44,551 shares of the communications equipment provider’s stock worth $1,027,000 after acquiring an additional 1,200 shares during the period. Wedge Capital Management L L P NC grew its holdings in shares of Barracuda Networks by 23.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 13,471 shares of the communications equipment provider’s stock worth $370,000 after acquiring an additional 2,541 shares during the period. LS Investment Advisors LLC grew its holdings in shares of Barracuda Networks by 264.7% in the 4th quarter. LS Investment Advisors LLC now owns 5,015 shares of the communications equipment provider’s stock worth $138,000 after acquiring an additional 3,640 shares during the period. Nordea Investment Management AB grew its holdings in shares of Barracuda Networks by 4.6% in the 3rd quarter. Nordea Investment Management AB now owns 86,838 shares of the communications equipment provider’s stock worth $2,104,000 after acquiring an additional 3,822 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Barracuda Networks by 2.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 150,491 shares of the communications equipment provider’s stock worth $4,138,000 after acquiring an additional 4,139 shares during the period. Institutional investors own 75.84% of the company’s stock.

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A number of equities research analysts recently weighed in on CUDA shares. Zacks Investment Research cut Barracuda Networks from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Piper Jaffray Companies cut Barracuda Networks from an “overweight” rating to a “neutral” rating in a report on Monday, November 27th. Robert W. Baird cut Barracuda Networks from an “outperform” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Tuesday, January 9th. JPMorgan Chase & Co. lowered Barracuda Networks from an “overweight” rating to a “neutral” rating and set a $27.55 target price on the stock. in a research note on Tuesday, December 12th. Finally, Imperial Capital upped their target price on Barracuda Networks from $22.00 to $27.55 and gave the company a “line” rating in a research note on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.32.

Shares of Barracuda Networks stock opened at $27.54 on Friday. Barracuda Networks Inc has a 52 week low of $19.06 and a 52 week high of $27.95. The stock has a market capitalization of $1,480.00 and a P/E ratio of 98.36.

Barracuda Networks (NYSE:CUDA) last posted its earnings results on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $93.85 million. analysts predict that Barracuda Networks Inc will post 0.31 earnings per share for the current year.

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Barracuda Networks Company Profile

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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