Eaton Vance Management acquired a new stake in shares of Barracuda Networks, Inc. (NYSE:CUDA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 235,000 shares of the communications equipment provider’s stock, valued at approximately $5,419,000. Eaton Vance Management owned about 0.44% of Barracuda Networks as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CUDA. Wells Fargo & Company MN raised its holdings in shares of Barracuda Networks by 18.5% during the first quarter. Wells Fargo & Company MN now owns 152,787 shares of the communications equipment provider’s stock valued at $3,531,000 after purchasing an additional 23,901 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Barracuda Networks by 29.7% during the first quarter. First Trust Advisors LP now owns 267,931 shares of the communications equipment provider’s stock valued at $6,192,000 after purchasing an additional 61,274 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Barracuda Networks by 3.0% during the first quarter. American Century Companies Inc. now owns 286,968 shares of the communications equipment provider’s stock valued at $6,632,000 after purchasing an additional 8,477 shares during the last quarter. US Bancorp DE increased its holdings in Barracuda Networks by 170.8% during the first quarter. US Bancorp DE now owns 8,226 shares of the communications equipment provider’s stock valued at $191,000 after buying an additional 5,188 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Barracuda Networks by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 122,232 shares of the communications equipment provider’s stock valued at $2,825,000 after buying an additional 4,694 shares during the last quarter. 65.98% of the stock is owned by hedge funds and other institutional investors.

Shares of Barracuda Networks, Inc. (CUDA) opened at 24.53 on Friday. The company’s 50-day moving average is $23.44 and its 200-day moving average is $22.73. Barracuda Networks, Inc. has a 1-year low of $19.06 and a 1-year high of $26.69. The stock has a market cap of $1.30 billion, a P/E ratio of 129.11 and a beta of 3.28.

Barracuda Networks (NYSE:CUDA) last announced its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, hitting the 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 analysts’ expectations of $91.18 million. During the same quarter in the previous year, the company posted $0.20 EPS. The firm’s quarterly 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 fiscal year.

In other news, VP Diane Honda sold 7,026 shares of the business’s stock in a transaction dated Saturday, July 1st. The shares were sold at an average price of $22.89, for a total transaction of $160,825.14. Following the transaction, the vice president now owns 100,085 shares of the company’s stock, valued at approximately $2,290,945.65. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $22.85, for a total transaction of $28,562.50. Following the transaction, the chief financial officer now directly owns 104,221 shares in the company, valued at approximately $2,381,449.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,679,330 shares of company stock worth $40,539,426. 13.90% of the stock is currently owned by corporate insiders.

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A number of analysts have commented on CUDA shares. Northland Securities reaffirmed a “buy” rating and set a $28.00 target price on shares of Barracuda Networks in a report on Friday, June 30th. Zacks Investment Research cut shares of Barracuda Networks from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Pacific Crest reaffirmed an “overweight” rating and set a $30.00 target price on shares of Barracuda Networks in a report on Wednesday, June 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a report on Monday, June 26th. Finally, Imperial Capital upped their target price on shares of Barracuda Networks from $20.00 to $21.00 and gave the company an “in-line” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $26.59.

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.

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

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