Dustin Driggs Sells 1,250 Shares of Barracuda Networks Inc (CUDA) Stock

Barracuda Networks Inc (NYSE:CUDA) CFO Dustin Driggs sold 1,250 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $22.29, for a total transaction of $27,862.50. Following the completion of the transaction, the chief financial officer now owns 36,717 shares in the company, valued at $818,421.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Tuesday, April 11th, Dustin Driggs sold 1,250 shares of Barracuda Networks stock. The stock was sold at an average price of $23.32, for a total transaction of $29,150.00.

Shares of Barracuda Networks Inc (NYSE:CUDA) traded up 0.76% during midday trading on Friday, hitting $22.43. 1,193,500 shares of the company were exchanged. Barracuda Networks Inc has a one year low of $13.91 and a one year high of $26.69. The firm’s 50 day moving average price is $21.71 and its 200 day moving average price is $22.82. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 118.05 and a beta of 3.43.

Barracuda Networks (NYSE:CUDA) last released its earnings results on Monday, April 17th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. Barracuda Networks had a net margin of 2.95% and a negative return on equity of 101.22%. The company had revenue of $89.26 million for the quarter, compared to the consensus estimate of $88.39 million. During the same quarter in the previous year, the company earned $0.15 EPS. Barracuda Networks’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts forecast that Barracuda Networks Inc will post $0.77 EPS for the current fiscal year.

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

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in Barracuda Networks by 1.3% in the fourth quarter. AQR Capital Management LLC now owns 203,902 shares of the communications equipment provider’s stock worth $4,369,000 after buying an additional 2,651 shares during the last quarter. Federated Investors Inc. PA increased its position in 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 worth $520,000 after buying an additional 17,846 shares during the last quarter. Alyeska Investment Group L.P. increased its position in Barracuda Networks by 28.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 960,874 shares of the communications equipment provider’s stock worth $20,592,000 after buying an additional 211,059 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Barracuda Networks during the fourth quarter worth about $307,000. Finally, Two Sigma Investments LP increased its position in Barracuda Networks by 355.0% in the fourth quarter. Two Sigma Investments LP now owns 457,236 shares of the communications equipment provider’s stock worth $9,799,000 after buying an additional 356,735 shares during the last quarter. Institutional investors own 57.17% of the company’s stock.

Several equities research analysts have weighed in on CUDA shares. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a report on Wednesday, April 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 target price on shares of Barracuda Networks in a report on Tuesday, April 18th. Vetr lowered shares of Barracuda Networks from a “strong-buy” rating to a “buy” rating and set a $26.50 target price on the stock. in a report on Monday, February 6th. Needham & Company LLC started coverage on shares of Barracuda Networks in a report on Monday, February 6th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, Robert W. Baird reiterated a “buy” rating on shares of Barracuda Networks in a report on Tuesday, February 21st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $25.85.

About Barracuda Networks

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.

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