Insider Trading at Barracuda Networks Inc.?

Paterniano Del Favero
Agosto 9, 2017

(NYSE:CUDA) by 27.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 686,180 shares of the communications equipment provider's stock after buying an additional 175,611 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Barracuda Networks during the fourth quarter worth approximately $307,000. Institutional investors and hedge funds own 63.67% of the company's stock. Federated Investors Inc. PA boosted its stake in Barracuda Networks by 277.3% in the fourth quarter. Ltd. raised its stake in shares of Barracuda Networks by 2.9% in the first quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider's stock valued at $140,000 after buying an additional 828 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Barracuda Networks by 17.6% in the second quarter. Ltd. now owns 6,276 shares of the communications equipment provider's stock valued at $146,000 after buying an additional 177 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Barracuda Networks by 1.2% in the first quarter. Strs Ohio now owns 244,551 shares of the communications equipment provider's stock worth $5,651,000 after buying an additional 67,579 shares during the period. Finally, AMI Asset Management Corp bought a new position in shares of Barracuda Networks during the second quarter worth $10,897,000. Parametric Portfolio Associates LLC now owns 33,590 shares of the communications equipment provider's stock worth $776,000 after buying an additional 655 shares during the period.

Barracuda Networks, Inc. has a one year low of $19.06 and a one year high of $26.69. (NYSE:CUDA) traded down 0.53% on Friday, hitting $22.71. Wells Fargo & Company MN raised its stake in shares of Barracuda Networks by 18.5% in the first quarter. The company has a market capitalization of $1.20 billion, a P/E ratio of 119.53 and a beta of 3.30. Barracuda Networks, Inc. The company's 50 day moving average is $22.89 and its 200-day moving average is $22.73.

Barracuda Networks (NYSE:CUDA) last announced its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share for the quarter, meeting the Zacks' consensus estimate of $0.18. The company had revenue of $94.18 million for the quarter, compared to analysts' expectations of $91.18 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The firm's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. Equities research analysts predict that Barracuda Networks will post $0.76 EPS for the current fiscal year.

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Other research analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of Barracuda Networks in a research report on Wednesday, April 19th. Rosenblatt Securities reiterated a "buy" rating and set a $30.00 target price on shares of Barracuda Networks in a research report on Wednesday, April 19th.

On Thursday, June 1st, Dustin Driggs sold 1,250 shares of Barracuda Networks stock. Sei Investments Co. owned about 1.30% of Barracuda Networks worth $15,823,000 as of its most recent SEC filing. Finally, TheStreet upgraded shares of Barracuda Networks from a d rating to a c rating in a research report on Monday, April 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of "Buy" and an average target price of $26.59.

On Monday, July 3rd, Dustin Driggs sold 1,250 shares of Barracuda Networks stock. The stock was sold at an average price of $22.89, for a total transaction of $160,825.14. Following the completion of the sale, the chief financial officer now owns 105,467 shares of the company's stock, valued at approximately $2,322,383.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The stock was sold at an average price of $22.29, for a total transaction of $27,862.50. The stock was sold at an average price of $24.13, for a total transaction of $9,725,837.80. The disclosure for this sale can be found here. 13,269 shares of the stock were exchanged.

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 created to manage information technology operations for its customers.

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