Barracuda Networks Inc. (CUDA) Shares Bought by Algert Global LLC
Algert Global LLC raised its position in Barracuda Networks Inc. (NYSE:CUDA) by 242.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,130 shares of the company’s stock after buying an additional 29,122 shares during the period. Algert Global LLC’s holdings in Barracuda Networks were worth $1,048,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in CUDA. Okumus Fund Management Ltd. bought a new stake in Barracuda Networks during the first quarter worth about $68,773,000. Vanguard Group Inc. boosted its stake in Barracuda Networks by 3.2% in the second quarter. Vanguard Group Inc. now owns 1,523,258 shares of the company’s stock worth $23,063,000 after buying an additional 47,118 shares during the last quarter. Primecap Management Co. CA boosted its stake in Barracuda Networks by 37.6% in the first quarter. Primecap Management Co. CA now owns 915,000 shares of the company’s stock worth $14,091,000 after buying an additional 250,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Barracuda Networks by 32.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 574,917 shares of the company’s stock worth $8,704,000 after buying an additional 140,555 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Barracuda Networks by 141.1% in the second quarter. BlackRock Fund Advisors now owns 565,490 shares of the company’s stock worth $8,562,000 after buying an additional 330,942 shares during the last quarter. 54.20% of the stock is owned by hedge funds and other institutional investors.
Barracuda Networks Inc. (NYSE:CUDA) opened at 25.52 on Friday. Barracuda Networks Inc. has a 52 week low of $9.44 and a 52 week high of $26.69. The stock has a market cap of $1.33 billion, a PE ratio of 638.00 and a beta of 3.61. The company has a 50-day moving average price of $24.15 and a 200-day moving average price of $19.29.
Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 56.63% and a net margin of 2.03%. The firm had revenue of $87.90 million for the quarter. During the same quarter last year, the company earned $0.10 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. Analysts anticipate that Barracuda Networks Inc. will post $0.57 earnings per share for the current year.
CUDA has been the topic of a number of recent research reports. Zacks Investment Research upgraded Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research note on Friday, October 7th. Summit Redstone reiterated a “hold” rating and issued a $15.00 target price on shares of Barracuda Networks in a research note on Saturday, July 2nd. Vetr cut Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 target price on the stock. in a research note on Monday, September 19th. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $18.00 target price (up from $17.00) on shares of Barracuda Networks in a research note on Sunday, July 10th. Finally, DA Davidson cut Barracuda Networks from a “neutral” rating to an “underperform” rating and raised their target price for the company from $17.00 to $19.50 in a research note on Friday, August 12th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Barracuda Networks presently has an average rating of “Hold” and a consensus price target of $24.58.
In other Barracuda Networks news, Director Gordon Stitt bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were bought at an average price of $20.81 per share, for a total transaction of $83,240.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffry R. Allen sold 6,403 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $20.75, for a total value of $132,862.25. The disclosure for this sale can be found here. Insiders own 39.60% of the company’s stock.
About Barracuda Networks
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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