Barracuda Networks Inc. (NYSE:CUDA) major shareholder Dean M. Drako sold 58,899 shares of the stock in a transaction on Friday, October 14th. The shares were sold at an average price of $26.40, for a total value of $1,554,933.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Barracuda Networks Inc. (NYSE:CUDA) opened at 25.05 on Tuesday. Barracuda Networks Inc. has a 52-week low of $9.44 and a 52-week high of $26.69. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 626.25 and a beta of 3.60. The company has a 50-day moving average price of $24.23 and a 200 day moving average price of $19.42.
Barracuda Networks (NYSE:CUDA) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 EPS for the quarter, beating 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 56.63%. The company had revenue of $87.90 million for the quarter. During the same period in the previous year, the company posted $0.10 earnings per share. Barracuda Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts expect that Barracuda Networks Inc. will post $0.57 earnings per share for the current year.
CUDA has been the topic of a number of recent research reports. Imperial Capital reaffirmed an “underweight” rating on shares of Barracuda Networks in a report on Thursday, October 13th. Pacific Crest raised Barracuda Networks from a “sector weight” rating to an “overweight” rating and raised their target price for the stock from $23.27 to $30.00 in a report on Tuesday, August 30th. DA Davidson set a $20.00 target price on Barracuda Networks and gave the stock a “sell” rating in a report on Tuesday, October 4th. BTIG Research raised their target price on Barracuda Networks from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 12th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.00 target price (up from $19.00) on shares of Barracuda Networks in a report on Wednesday, October 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Barracuda Networks currently has an average rating of “Hold” and an average price target of $24.58.
A number of large investors have recently bought and sold shares of CUDA. Bank of New York Mellon Corp raised its stake in Barracuda Networks by 69.3% in the second quarter. Bank of New York Mellon Corp now owns 81,445 shares of the company’s stock valued at $1,232,000 after buying an additional 33,349 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Barracuda Networks during the second quarter worth $3,356,000. Strs Ohio increased its position in shares of Barracuda Networks by 23.1% in the second quarter. Strs Ohio now owns 95,936 shares of the company’s stock worth $1,452,000 after buying an additional 18,000 shares during the period. Bank of Montreal Can purchased a new position in shares of Barracuda Networks during the second quarter worth $232,000. Finally, Hershey Trust Co. increased its position 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 worth $300,000 after buying an additional 10,245 shares during the period. 53.98% of the stock is currently owned by institutional investors.
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