Barracuda Networks, Inc. (CUDA) Director Michael D. Perone Sells 89,363 Shares

Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 89,363 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $24.02, for a total value of $2,146,499.26. Following the completion of the transaction, the director now owns 2,988,898 shares of the company’s stock, valued at approximately $71,793,329.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Barracuda Networks, Inc. (NYSE:CUDA) traded down 1.75% during trading on Wednesday, hitting $23.59. The company’s stock had a trading volume of 5,347,132 shares. Barracuda Networks, Inc. has a 1-year low of $19.06 and a 1-year high of $26.69. The company has a market capitalization of $1.25 billion, a P/E ratio of 124.16 and a beta of 3.30. The firm’s 50 day moving average is $23.13 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. The firm had revenue of $94.18 million for the quarter, compared to analyst estimates of $91.18 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. Analysts forecast that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.

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A number of equities analysts have weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a report on Wednesday, April 19th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a report on Wednesday, April 19th. Northland Securities restated a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a report on Friday, June 30th. BidaskClub cut Barracuda Networks from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, DA Davidson decreased their price target on Barracuda Networks from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.59.

A number of hedge funds have recently added to or reduced their stakes in CUDA. Chicago Equity Partners LLC raised its stake in Barracuda Networks by 0.5% in the first quarter. Chicago Equity Partners LLC now owns 37,740 shares of the communications equipment provider’s stock worth $872,000 after buying an additional 170 shares during the period. Asset Management One Co. Ltd. raised its stake 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 worth $146,000 after buying an additional 177 shares during the period. Renaissance Group LLC raised its stake in Barracuda Networks by 2.5% in the second quarter. Renaissance Group LLC now owns 14,118 shares of the communications equipment provider’s stock worth $326,000 after buying an additional 343 shares during the period. Acrospire Investment Management LLC raised its stake in 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. Finally, Massachusetts Financial Services Co. MA raised its stake in Barracuda Networks by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 52,327 shares of the communications equipment provider’s stock worth $1,209,000 after buying an additional 621 shares during the period. 61.61% of the stock is currently owned by hedge funds and other institutional investors.

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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