Trexquant Investment LP decreased its position in Barracuda Networks, Inc. (NYSE:CUDA) by 33.6% during the second quarter, Holdings Channel reports. The firm owned 24,273 shares of the communications equipment provider’s stock after selling 12,261 shares during the period. Trexquant Investment LP’s holdings in Barracuda Networks were worth $560,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Barracuda Networks by 19.0% in the first quarter. Vanguard Group Inc. now owns 2,729,373 shares of the communications equipment provider’s stock valued at $63,075,000 after buying an additional 436,541 shares during the last quarter. Clearbridge Investments LLC raised its position in Barracuda Networks by 0.8% in the first quarter. Clearbridge Investments LLC now owns 2,034,008 shares of the communications equipment provider’s stock valued at $47,006,000 after buying an additional 16,324 shares during the last quarter. Systematic Financial Management LP purchased a new position in Barracuda Networks during the first quarter valued at about $40,341,000. Penserra Capital Management LLC raised its position in Barracuda Networks by 7.3% in the first quarter. Penserra Capital Management LLC now owns 1,540,156 shares of the communications equipment provider’s stock valued at $35,593,000 after buying an additional 105,154 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Barracuda Networks by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,263,618 shares of the communications equipment provider’s stock valued at $29,202,000 after buying an additional 231,507 shares during the last quarter. Institutional investors own 63.70% of the company’s stock.

Shares of Barracuda Networks, Inc. (NYSE:CUDA) opened at 23.63 on Friday. Barracuda Networks, Inc. has a 52-week low of $19.06 and a 52-week high of $26.69. The stock’s 50 day moving average is $23.02 and its 200 day moving average is $22.72. The company has a market capitalization of $1.25 billion, a P/E ratio of 124.37 and a beta of 3.30.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $91.18 million. During the same period last year, the company posted $0.20 EPS. Barracuda Networks’s revenue was up 8.7% on a year-over-year basis. Equities analysts expect that Barracuda Networks, Inc. will post $0.76 EPS for the current year.

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Several equities analysts recently issued reports on CUDA shares. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a report on Tuesday, April 18th. DA Davidson dropped their target price on shares of Barracuda Networks from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, April 18th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 target price on shares of Barracuda Networks in a report on Tuesday, April 18th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a report on Wednesday, April 19th. Finally, TheStreet upgraded shares of Barracuda Networks from a “d” rating to a “c” rating in a report on Monday, April 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.59.

In related news, CFO Dustin Driggs sold 1,250 shares of Barracuda Networks stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $22.29, for a total transaction of $27,862.50. Following the completion of the transaction, the chief financial officer now directly owns 36,717 shares of the company’s stock, valued at approximately $818,421.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William D. Jenkins, Jr. sold 80,612 shares of Barracuda Networks stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $24.02, for a total transaction of $1,936,300.24. Following the transaction, the chief executive officer now directly owns 621,108 shares of the company’s stock, valued at $14,919,014.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 501,766 shares of company stock valued at $12,073,560. 13.90% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Barracuda Networks (NYSE:CUDA)

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