Insider Selling: Barracuda Networks, Inc. (CUDA) CFO Sells $28,562.50 in Stock

Barracuda Networks, Inc. (NYSE:CUDA) CFO Dustin Driggs sold 1,250 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $22.85, for a total transaction of $28,562.50. Following the transaction, the chief financial officer now owns 104,221 shares in the company, valued at $2,381,449.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Dustin Driggs also recently made the following trade(s):

  • On Thursday, June 1st, Dustin Driggs sold 1,250 shares of Barracuda Networks stock. The shares were sold at an average price of $22.02, for a total value of $27,525.00.
  • On Monday, May 15th, Dustin Driggs sold 1,250 shares of Barracuda Networks stock. The shares were sold at an average price of $22.29, for a total value of $27,862.50.
  • On Tuesday, April 11th, Dustin Driggs sold 1,250 shares of Barracuda Networks stock. The shares were sold at an average price of $23.32, for a total value of $29,150.00.

Shares of Barracuda Networks, Inc. (NYSE:CUDA) traded up 1.51% during mid-day trading on Monday, reaching $24.21. The company had a trading volume of 871,047 shares. Barracuda Networks, Inc. has a 1-year low of $17.50 and a 1-year high of $26.69. The firm has a 50-day moving average price of $22.41 and a 200-day moving average price of $22.65. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 127.42 and a beta of 3.33.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings data on Monday, April 17th. The communications equipment provider reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The company had revenue of $89.26 million for the quarter, compared to the consensus estimate of $88.39 million. Barracuda Networks had a negative return on equity of 224.23% and a net margin of 2.90%. Barracuda Networks’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 EPS. Equities analysts expect that Barracuda Networks, Inc. will post $0.77 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of Barracuda Networks by 3.5% in the fourth quarter. State Street Corp now owns 469,832 shares of the communications equipment provider’s stock valued at $10,068,000 after buying an additional 15,785 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Barracuda Networks by 52.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,032,111 shares of the communications equipment provider’s stock valued at $22,118,000 after buying an additional 353,726 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of Barracuda Networks by 277.3% in the fourth quarter. Federated Investors Inc. PA now owns 24,281 shares of the communications equipment provider’s stock valued at $520,000 after buying an additional 17,846 shares in the last quarter. Allianz Asset Management AG purchased a new stake in shares of Barracuda Networks during the fourth quarter valued at $1,420,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Barracuda Networks by 25.6% in the fourth quarter. Renaissance Technologies LLC now owns 692,200 shares of the communications equipment provider’s stock valued at $14,834,000 after buying an additional 141,000 shares in the last quarter. 62.81% of the stock is currently owned by institutional investors.

A number of analysts have recently weighed in on CUDA shares. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price objective on shares of Barracuda Networks in a research note on Monday, June 26th. Northland Securities reissued a “buy” rating and set a $28.00 price objective on shares of Barracuda Networks in a research note on Friday, June 30th. Robert W. Baird reissued a “buy” rating on shares of Barracuda Networks in a research note on Tuesday, April 18th. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective on shares of Barracuda Networks in a research note on Tuesday, April 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of Barracuda Networks in a research note on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $26.78.

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.

Insider Buying and Selling by Quarter for Barracuda Networks (NYSE:CUDA)

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