The 58,899 Shares of Barracuda Networks Inc. (CUDA) Stock are sold by Dean M. Drako

The 58,899 Shares of Barracuda Networks Inc. (CUDA) Stock are sold by Dean M. Drako

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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