Bank of New York Mellon Corp raised its stake in Barracuda Networks Inc. (NYSE:CUDA) by 69.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 81,445 shares of the company’s stock after buying an additional 33,349 shares during the period. Bank of New York Mellon Corp owned about 0.16% of Barracuda Networks worth $1,232,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $232,000. Hershey Trust Co. boosted its stake in shares of Barracuda Networks by 106.9% in the second quarter. Hershey Trust Co. now owns 19,827 shares of the company’s stock valued at $300,000 after buying an additional 10,245 shares during the last quarter. Hamilton Lane Advisors LLC purchased a new stake in shares of Barracuda Networks during the second quarter valued at about $849,000. Spark Investment Management LLC purchased a new stake in shares of Barracuda Networks during the first quarter valued at about $1,262,000. Finally, Strs Ohio boosted its stake in shares of Barracuda Networks by 23.1% in the second quarter. Strs Ohio now owns 95,936 shares of the company’s stock valued at $1,452,000 after buying an additional 18,000 shares during the last quarter. Institutional investors and hedge funds own 54.20% of the company’s stock.
Shares of Barracuda Networks Inc. (NYSE:CUDA) traded up 2.39% during mid-day trading on Thursday, hitting $26.08. The company had a trading volume of 1,046,877 shares. Barracuda Networks Inc. has a one year low of $9.44 and a one year high of $26.69. The firm’s 50-day moving average price is $23.96 and its 200 day moving average price is $19.17. The company has a market capitalization of $1.36 billion, a P/E ratio of 652.00 and a beta of 3.61.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings data on Tuesday, October 11th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.08. Barracuda Networks had a net margin of 2.03% and a negative return on equity of 50.65%. The firm earned $87.90 million during the quarter. During the same quarter last year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts predict that Barracuda Networks Inc. will post $0.57 earnings per share for the current fiscal year.
Several analysts have issued reports on the company. JMP Securities restated a “sell” rating on shares of Barracuda Networks in a research note on Saturday, July 9th. Imperial Capital reiterated an “underweight” rating on shares of Barracuda Networks in a research report on Thursday. Summit Research assumed coverage on Barracuda Networks in a research report on Friday, July 1st. They set a “hold” rating on the stock. Summit Redstone reiterated a “hold” rating and set a $15.00 price target on shares of Barracuda Networks in a research report on Saturday, July 2nd. Finally, DA Davidson cut Barracuda Networks from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $17.00 to $19.50 in a research report on Friday, August 12th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.79.
In other news, CEO William D. Jenkins, Jr. sold 4,000 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $20.23, for a total value of $80,920.00. Following the completion of the transaction, the chief executive officer now owns 625,934 shares of the company’s stock, valued at approximately $12,662,644.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael D. Hughes sold 5,000 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $20.23, for a total transaction of $101,150.00. Following the completion of the transaction, the senior vice president now directly owns 114,513 shares of the company’s stock, valued at approximately $2,316,597.99. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by corporate insiders.
Barracuda Networks Company Profile
Barracuda Networks, Inc (Barracuda Networks) designs and delivers security and storage solutions. The Company offers cloud-connected solutions for its customers to address security threats, improve network performance and protect and store their data. The Company’s security and storage solutions are connected to its cloud services, which enable continuous software updates, offsite redundancy and distributed capacity, and are offered on a subscription basis.