Barracuda Networks Inc. (CUDA) Major Shareholder Sells $1,554,933.60 in Stock
Barracuda Networks Inc. (NYSE:CUDA) major shareholder Dean M. Drako sold 58,899 shares of Barracuda Networks stock in a transaction on Friday, October 14th. The stock was sold at an average price of $26.40, for a total value of $1,554,933.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Barracuda Networks Inc. (NYSE:CUDA) traded up 0.63% during midday trading on Friday, reaching $25.52. The company had a trading volume of 1,605,440 shares. The stock has a market capitalization of $1.33 billion, a PE ratio of 638.00 and a beta of 3.61. The company’s 50 day moving average price is $24.15 and its 200 day moving average price is $19.29. Barracuda Networks Inc. has a 52-week low of $9.44 and a 52-week high of $26.69.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The company had revenue of $87.90 million for the quarter. Barracuda Networks had a negative return on equity of 56.63% and a net margin of 2.03%. Barracuda Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. Equities research analysts expect that Barracuda Networks Inc. will post $0.57 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. US Bancorp DE raised its stake in Barracuda Networks by 199.2% in the second quarter. US Bancorp DE now owns 7,057 shares of the company’s stock worth $107,000 after buying an additional 4,698 shares in the last quarter. BlackRock Advisors LLC raised its stake in shares of 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 period. AHL Partners LLP acquired a new stake in shares of Barracuda Networks during the second quarter valued at $158,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Barracuda Networks during the second quarter valued at $179,000. Finally, Algert Global LLC acquired a new stake in shares of Barracuda Networks during the second quarter valued at $182,000. 54.20% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on CUDA. JMP Securities restated a “sell” rating on shares of Barracuda Networks in a report on Saturday, July 9th. Zacks Investment Research upgraded Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a report on Friday. Imperial Capital restated an “in-line” rating and issued a $17.00 price objective (up from $15.00) on shares of Barracuda Networks in a report on Tuesday, July 12th. Summit Research began coverage on Barracuda Networks in a report on Friday, July 1st. They issued a “hold” rating for the company. Finally, Summit Redstone restated a “hold” rating and issued a $15.00 price objective on shares of Barracuda Networks in a report on Saturday, July 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target 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.
Receive News & Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.