Teachers Retirement System of The State of Kentucky Acquires Shares of 6,700 Barracuda Networks, Inc. (CUDA)

Teachers Retirement System of The State of Kentucky acquired a new stake in Barracuda Networks, Inc. (NYSE:CUDA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,700 shares of the communications equipment provider’s stock, valued at approximately $162,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CUDA. Victory Capital Management Inc. raised its stake in shares of 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 in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Barracuda Networks in the second quarter valued at $113,000. Legal & General Group Plc raised its stake in shares of 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of 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 in the last quarter. Finally, Exane Derivatives raised its stake in shares of Barracuda Networks by 1,004.9% in the third quarter. Exane Derivatives now owns 7,624 shares of the communications equipment provider’s stock valued at $185,000 after acquiring an additional 6,934 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Barracuda Networks, Inc. (NYSE CUDA) opened at $27.55 on Monday. The stock has a market capitalization of $1,474.64, a PE ratio of 88.74, a price-to-earnings-growth ratio of 7.34 and a beta of 3.28. Barracuda Networks, Inc. has a twelve month low of $19.06 and a twelve month high of $27.75.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $94.30 million for the quarter, compared to analyst estimates of $93.32 million. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 earnings per share. analysts predict that Barracuda Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

In other Barracuda Networks news, CFO Dustin Driggs sold 5,135 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $24.85, for a total transaction of $127,604.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William D. Jenkins, Jr. sold 16,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $24.30, for a total value of $400,950.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,649,809 shares of company stock worth $65,389,370. Corporate insiders own 13.90% of the company’s stock.

CUDA has been the topic of a number of analyst reports. BidaskClub cut Barracuda Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price target on shares of Barracuda Networks in a research note on Tuesday, September 12th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Barracuda Networks in a research note on Tuesday, September 12th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Monday, October 9th. Finally, KeyCorp restated a “buy” rating and issued a $30.00 price target on shares of Barracuda Networks in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.10.

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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.

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

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