Strs Ohio raised its stake in shares of Barracuda Networks Inc. (NYSE:CUDA) by 23.1% during the second quarter, Holdings Channel reports. The fund owned 95,936 shares of the company’s stock after buying an additional 18,000 shares during the period. Strs Ohio’s holdings in Barracuda Networks were worth $1,452,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of Montreal Can purchased a new position in shares of Barracuda Networks during the second quarter valued at $232,000. Hershey Trust Co. raised 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 valued at $300,000 after buying an additional 10,245 shares during the last quarter. Hamilton Lane Advisors LLC purchased a new position in shares of Barracuda Networks during the second quarter valued at $849,000. Spark Investment Management LLC purchased a new position in shares of Barracuda Networks during the first quarter valued at $1,262,000. Finally, Jana Partners LLC purchased a new position in shares of Barracuda Networks during the first quarter valued at $1,540,000. 54.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Barracuda Networks Inc. (NYSE:CUDA) traded down 2.95% during mid-day trading on Tuesday, hitting $23.33. The company’s stock had a trading volume of 1,455,799 shares. Barracuda Networks Inc. has a 1-year low of $9.44 and a 1-year high of $25.77. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 583.25 and a beta of 3.60. The company has a 50-day moving average of $23.81 and a 200 day moving average of $19.09.
Barracuda Networks (NYSE:CUDA) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. Barracuda Networks had a negative return on equity of 33.60% and a net margin of 0.67%. The firm had revenue of $87.90 million for the quarter, compared to the consensus estimate of $85.27 million. During the same quarter last year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts expect that Barracuda Networks Inc. will post $0.57 EPS for the current year.
CUDA has been the topic of several research reports. Zacks Investment Research raised Barracuda Networks from a “hold” rating to a “strong-buy” rating and set a $27.00 target price on the stock in a research report on Friday. Summit Redstone reaffirmed a “hold” rating and issued a $15.00 target price on shares of Barracuda Networks in a research report on Saturday, July 2nd. Vetr lowered Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 target price on the stock. in a research report on Monday, September 19th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $18.00 target price (up from $17.00) on shares of Barracuda Networks in a research report on Sunday, July 10th. Finally, DA Davidson lowered Barracuda Networks from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $17.00 to $19.50 in a research report on Friday, August 12th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $21.07.
In related news, CEO William D. Jenkins, Jr. sold 4,000 shares of Barracuda Networks stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $20.23, for a total value of $80,920.00. Following the sale, the chief executive officer now owns 625,934 shares of the company’s stock, valued at $12,662,644.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David Faugno sold 25,000 shares of Barracuda Networks stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $19.90, for a total value of $497,500.00. The disclosure for this sale can be found here. 39.60% of the stock is owned by company insiders.
About Barracuda Networks
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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