Bank of Montreal Can decreased its stake in Barracuda Networks, Inc. (NYSE:CUDA) by 4.2% during the second quarter, Holdings Channel reports. The firm owned 145,628 shares of the communications equipment provider’s stock after selling 6,386 shares during the period. Bank of Montreal Can’s holdings in Barracuda Networks were worth $3,359,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its stake in shares of Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 177 shares during the period. Acrospire Investment Management LLC boosted its stake in shares of Barracuda Networks by 9.5% in the first quarter. Acrospire Investment Management LLC now owns 6,900 shares of the communications equipment provider’s stock worth $159,000 after buying an additional 600 shares during the period. US Bancorp DE boosted its stake in shares of Barracuda Networks by 170.8% in the first quarter. US Bancorp DE now owns 8,226 shares of the communications equipment provider’s stock worth $191,000 after buying an additional 5,188 shares during the period. Atria Investments LLC bought a new stake in shares of Barracuda Networks during the second quarter worth $204,000. Finally, Paloma Partners Management Co bought a new stake in shares of Barracuda Networks during the first quarter worth $223,000. 63.70% of the stock is owned by institutional investors and hedge funds.

Shares of Barracuda Networks, Inc. (NYSE CUDA) traded up 0.44% during midday trading on Monday, hitting $22.81. 39,368 shares of the stock were exchanged. Barracuda Networks, Inc. has a 12-month low of $19.06 and a 12-month high of $26.69. The firm has a 50-day moving average price of $22.89 and a 200-day moving average price of $22.73. The company has a market cap of $1.21 billion, a PE ratio of 120.05 and a beta of 3.30.

Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The company had revenue of $94.18 million for the quarter, compared to the consensus estimate of $91.18 million. During the same period last year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts predict that Barracuda Networks, Inc. will post $0.76 EPS for the current year.

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CUDA has been the subject of a number of research reports. Robert W. Baird reissued a “buy” rating on shares of Barracuda Networks in a research report on Tuesday, July 11th. Northland Securities reissued a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research report on Friday, June 30th. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research report on Wednesday, April 19th. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 price target on shares of Barracuda Networks in a research report on Tuesday, April 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $26.59.

In other news, CFO Dustin Driggs sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $22.63, for a total value of $28,287.50. Following the transaction, the chief financial officer now directly owns 105,471 shares in the company, valued at approximately $2,386,808.73. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William D. Jenkins, Jr. sold 80,612 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $24.02, for a total transaction of $1,936,300.24. Following the completion of the transaction, the chief executive officer now owns 621,108 shares in the company, valued at $14,919,014.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 501,766 shares of company stock worth $12,073,560. Insiders own 13.90% of the company’s stock.

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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