Teachers Advisors LLC boosted its stake in shares of Barracuda Networks, Inc. (NYSE:CUDA) by 20.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 457,350 shares of the communications equipment provider’s stock after buying an additional 77,695 shares during the period. Teachers Advisors LLC owned approximately 0.87% of Barracuda Networks worth $10,569,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its position in Barracuda Networks by 3.5% in the fourth quarter. State Street Corp now owns 469,832 shares of the communications equipment provider’s stock valued at $10,068,000 after buying an additional 15,785 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Barracuda Networks by 52.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,032,111 shares of the communications equipment provider’s stock valued at $22,118,000 after buying an additional 353,726 shares in the last quarter. Norges Bank bought a new position in Barracuda Networks during the fourth quarter valued at about $20,352,000. Highbridge Capital Management LLC bought a new position in Barracuda Networks during the fourth quarter valued at about $307,000. Finally, Bank of Montreal Can boosted its position in Barracuda Networks by 29.9% in the first quarter. Bank of Montreal Can now owns 152,014 shares of the communications equipment provider’s stock valued at $3,514,000 after buying an additional 34,973 shares in the last quarter. 61.61% of the stock is currently owned by institutional investors.
Barracuda Networks, Inc. (NYSE:CUDA) traded up 1.46% during midday trading on Friday, reaching $23.64. 666,498 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $23.16 and its 200 day moving average is $22.74. Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $26.69. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 124.42 and a beta of 3.30.
Barracuda Networks (NYSE:CUDA) last announced its quarterly 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 company had revenue of $94.18 million during the quarter, compared to the consensus estimate of $91.18 million. During the same period in the previous year, the company posted $0.20 earnings per share. Barracuda Networks’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Barracuda Networks, Inc. will post $0.76 earnings per share for the current year.
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Several research firms have issued reports on CUDA. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, July 11th. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price on shares of Barracuda Networks in a research note on Wednesday, July 19th. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a research note on Saturday, July 22nd. Piper Jaffray Companies restated an “overweight” rating and set a $28.00 target price (down previously from $29.00) on shares of Barracuda Networks in a research note 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 company an “in-line” rating in a research note on Wednesday, July 12th. Two research analysts have 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 stock has an average rating of “Buy” and a consensus price target of $26.59.
In other news, Director Michael D. Perone sold 236,987 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $24.02, for a total transaction of $5,692,427.74. Following the completion of the transaction, the director now directly owns 2,988,898 shares of the company’s stock, valued at approximately $71,793,329.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael D. Hughes sold 4,468 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $22.55, for a total value of $100,753.40. Following the transaction, the senior vice president now directly owns 163,875 shares of the company’s stock, valued at $3,695,381.25. The disclosure for this sale can be found here. Insiders sold 896,778 shares of company stock valued at $21,563,162 over the last three months. 13.90% of the stock is currently owned by corporate insiders.
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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