Barracuda Networks, Inc. (NYSE:CUDA) Director Michael D. Perone sold 54,054 shares of Barracuda Networks stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $24.51, for a total value of $1,324,863.54. Following the transaction, the director now owns 1,625,793 shares of the company’s stock, valued at approximately $39,848,186.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Barracuda Networks, Inc. (CUDA) traded up 0.63% during midday trading on Friday, hitting $22.31. 1,826,590 shares of the stock traded hands. The firm has a 50-day moving average price of $24.14 and a 200 day moving average price of $22.90. Barracuda Networks, Inc. has a one year low of $19.06 and a one year high of $26.16. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 117.42 and a beta of 3.27.

Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. The company had revenue of $94.30 million during the quarter, compared to the consensus estimate of $93.32 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Barracuda Networks’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts anticipate that Barracuda Networks, Inc. will post $0.75 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Insider Selling: Barracuda Networks, Inc. (CUDA) Director Sells 54,054 Shares of Stock” was first posted by Marea Informative and is the property of of Marea Informative. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at http://www.mareainformativa.com/barracuda-networks-inc-cuda-director-michael-d-perone-sells-54054-shares-of-stock/117217/.

Several research analysts have recently weighed in on CUDA shares. Zacks Investment Research raised Barracuda Networks from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Thursday, July 13th. BidaskClub raised Barracuda Networks from a “strong sell” rating to a “sell” rating in a research report on Friday, September 8th. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a research note on Monday, October 9th. Robert W. Baird reiterated a “buy” rating and set a $29.00 target price on shares of Barracuda Networks in a research note on Wednesday. Finally, Pacific Crest reiterated an “overweight” rating and set a $30.00 target price on shares of Barracuda Networks in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.10.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. raised its holdings in Barracuda Networks by 2.9% during the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after purchasing an additional 177 shares in the last quarter. Renaissance Group LLC raised its holdings in Barracuda Networks by 2.5% during the second quarter. Renaissance Group LLC now owns 14,118 shares of the communications equipment provider’s stock worth $326,000 after purchasing an additional 343 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Barracuda Networks by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 52,327 shares of the communications equipment provider’s stock worth $1,209,000 after purchasing an additional 621 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in Barracuda Networks by 2.0% during the first quarter. Parametric Portfolio Associates LLC now owns 33,590 shares of the communications equipment provider’s stock worth $776,000 after purchasing an additional 655 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in Barracuda Networks by 4.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,396 shares of the communications equipment provider’s stock worth $401,000 after purchasing an additional 710 shares in the last quarter. Institutional investors and hedge funds own 65.96% of the company’s stock.

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.

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

Receive News & Stock Ratings for Barracuda Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barracuda Networks Inc. and related stocks with our FREE daily email newsletter.