QS Investors LLC bought a new stake in shares of Barracuda Networks, Inc. (NYSE:CUDA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 138,382 shares of the communications equipment provider’s stock, valued at approximately $3,191,000. QS Investors LLC owned about 0.26% of Barracuda Networks at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Barracuda Networks by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,793 shares of the communications equipment provider’s stock valued at $111,000 after purchasing an additional 717 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Barracuda Networks during the second quarter valued at approximately $113,000. Legal & General Group Plc lifted its position in Barracuda Networks by 15.7% during the second quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider’s stock valued at $140,000 after purchasing an additional 828 shares during the last quarter. Asset Management One Co. Ltd. lifted its position 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 valued at $146,000 after purchasing an additional 177 shares during the last quarter. Finally, US Bancorp DE lifted its position in Barracuda Networks by 170.8% during the first quarter. US Bancorp DE now owns 8,226 shares of the communications equipment provider’s stock valued at $191,000 after purchasing an additional 5,188 shares during the last quarter. Institutional investors and hedge funds own 65.96% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Barracuda Networks from a “sell” rating to a “strong sell” rating in a report on Saturday, September 23rd. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of Barracuda Networks in a report on Tuesday, September 12th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price objective on shares of Barracuda Networks in a report on Tuesday, September 12th. BTIG Research restated a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a report on Saturday, July 22nd. Finally, Zacks Investment Research lowered shares of Barracuda Networks from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Barracuda Networks presently has an average rating of “Buy” and a consensus target price of $26.59.

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Barracuda Networks, Inc. (NYSE:CUDA) opened at 25.19 on Thursday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 132.58 and a beta of 3.27. Barracuda Networks, Inc. has a 52 week low of $19.06 and a 52 week high of $26.69. The company has a 50 day moving average of $23.94 and a 200 day moving average of $22.83.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $94.18 million during the quarter, compared to the consensus estimate of $91.18 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. Barracuda Networks’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.20 earnings per share. Equities analysts expect that Barracuda Networks, Inc. will post $0.76 EPS for the current fiscal year.

In other news, CFO Dustin Driggs sold 1,250 shares of Barracuda Networks stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $22.63, for a total transaction of $28,287.50. Following the completion of the sale, the chief financial officer now directly owns 105,471 shares in the company, valued at $2,386,808.73. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Perone sold 54,054 shares of Barracuda Networks stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $24.51, for a total value of $1,324,863.54. Following the sale, the director now owns 1,625,793 shares of the company’s stock, valued at $39,848,186.43. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,839,430 shares of company stock valued at $68,785,913. 13.90% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Barracuda Networks (NYSE:CUDA)

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