CUDA has been the topic of several other reports. Vetr upgraded shares of Barracuda Networks from a hold rating to a buy rating and set a $17.50 price objective on the stock in a research note on Monday, June 6th. Zacks Investment Research upgraded shares of Barracuda Networks from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research note on Friday, July 8th. JMP Securities restated a sell rating on shares of Barracuda Networks in a research note on Saturday, July 9th. Piper Jaffray Cos. restated a neutral rating and set a $18.00 price objective (up from $17.00) on shares of Barracuda Networks in a research note on Sunday, July 10th. Finally, Imperial Capital restated an in-line rating and set a $15.00 price objective (down from $16.00) on shares of Barracuda Networks in a research note on Thursday, June 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $21.07.
Barracuda Networks (NYSE:CUDA) opened at 23.83 on Tuesday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 595.75 and a beta of 3.61. The company has a 50-day moving average of $23.75 and a 200 day moving average of $18.96. Barracuda Networks has a 52-week low of $9.44 and a 52-week high of $25.77.
In related news, Director Gordon Stitt acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was acquired at an average cost of $20.81 per share, for a total transaction of $83,240.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffry R. Allen sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $19.38, for a total transaction of $193,800.00. Following the transaction, the director now owns 7,762 shares of the company’s stock, valued at $150,427.56. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in CUDA. American Century Companies Inc. bought a new position in Barracuda Networks during the second quarter worth about $3,356,000. Strs Ohio boosted its position in 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 in the last quarter. Bank of Montreal Can bought a new position in Barracuda Networks during the second quarter worth about $232,000. Hershey Trust Co. boosted its position in 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 in the last quarter. Finally, Hamilton Lane Advisors LLC bought a new position in Barracuda Networks during the second quarter worth about $849,000. Institutional investors and hedge funds own 54.20% of the company’s stock.
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.
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