Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 253,629 shares of the stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $24.33, for a total transaction of $6,170,793.57. Following the completion of the transaction, the director now owns 2,151,074 shares of the company’s stock, valued at approximately $52,335,630.42. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Barracuda Networks, Inc. (NYSE:CUDA) opened at 24.09 on Friday. Barracuda Networks, Inc. has a one year low of $19.06 and a one year high of $26.69. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 126.79 and a beta of 3.28. The firm’s 50-day moving average is $23.54 and its 200-day moving average is $22.73.

Barracuda Networks (NYSE:CUDA) last released its earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The firm 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 business posted $0.20 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in CUDA. Victory Capital Management Inc. grew its position in Barracuda Networks by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock valued at $111,000 after acquiring an additional 717 shares during the last quarter. Advisors Asset Management Inc. bought a new position in Barracuda Networks in the second quarter valued at about $113,000. Legal & General Group Plc grew its position in Barracuda Networks by 15.7% in the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock valued at $140,000 after acquiring an additional 828 shares during the last quarter. Asset Management One Co. Ltd. grew its position in 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 valued at $146,000 after acquiring an additional 177 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Barracuda Networks by 17.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock valued at $167,000 after acquiring an additional 1,104 shares during the last quarter. Hedge funds and other institutional investors own 65.96% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Northland Securities reaffirmed a “buy” rating and issued a $28.00 target price on shares of Barracuda Networks in a report on Friday, June 30th. BTIG Research reaffirmed a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a report on Saturday, July 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 target price on shares of Barracuda Networks in a report on Wednesday, July 19th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $28.00 target price (down previously from $29.00) on shares of Barracuda Networks in a report on Wednesday, July 12th. Finally, Imperial Capital upped their target price on shares of Barracuda Networks from $20.00 to $21.00 and gave the stock an “in-line” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $26.59.

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.

Insider Buying and Selling by Quarter for Barracuda Networks (NYSE:CUDA)

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