Vanguard Group Inc. increased its position in shares of Barracuda Networks, Inc. (NYSE:CUDA) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,934,104 shares of the communications equipment provider’s stock after purchasing an additional 204,731 shares during the period. Vanguard Group Inc. owned 5.54% of Barracuda Networks worth $67,660,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Barracuda Networks by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock worth $111,000 after purchasing an additional 717 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Barracuda Networks during the second quarter worth about $113,000. Legal & General Group Plc increased its position in Barracuda Networks by 15.7% during the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock worth $140,000 after purchasing an additional 828 shares during the last quarter. Atria Investments LLC acquired a new stake in Barracuda Networks during the second quarter worth about $204,000. Finally, Crow Point Partners LLC acquired a new stake in Barracuda Networks during the second quarter worth about $205,000. Hedge funds and other institutional investors own 65.55% of the company’s stock.
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In other Barracuda Networks news, Director Michael D. Perone sold 108,258 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $25.77, for a total value of $2,789,808.66. Following the sale, the director now directly owns 1,378,038 shares of the company’s stock, valued at $35,512,039.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael D. Perone sold 236,987 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $24.02, for a total value of $5,692,427.74. Following the completion of the sale, the director now directly owns 2,988,898 shares in the company, valued at $71,793,329.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,061,181 shares of company stock valued at $75,273,789. Company insiders own 13.90% of the company’s stock.
Several research firms recently issued reports on CUDA. J P Morgan Chase & Co restated a “buy” rating and set a $35.00 price objective on shares of Barracuda Networks in a research report on Wednesday, October 11th. Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Barracuda Networks in a research report on Tuesday, September 12th. Piper Jaffray Companies restated an “overweight” rating and set a $28.00 price objective (down from $29.00) on shares of Barracuda Networks in a research report on Wednesday, July 12th. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Barracuda Networks from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $28.10.
Barracuda Networks, Inc. (CUDA) opened at 23.31 on Wednesday. The firm’s 50-day moving average is $23.88 and its 200 day moving average is $22.88. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 137.12 and a beta of 3.27. Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $26.16.
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. The firm had revenue of $94.30 million during the quarter, compared to analysts’ expectations of $93.32 million. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. Barracuda Networks’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. On average, equities research analysts expect that Barracuda Networks, Inc. will post $0.75 EPS for the current year.
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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