Barracuda Networks Inc (NYSE:CUDA) CFO Dustin Driggs sold 1,250 shares of the business’s stock in a transaction on Tuesday, April 11th. The shares were sold at an average price of $23.32, for a total transaction of $29,150.00. Following the transaction, the chief financial officer now owns 37,453 shares of the company’s stock, valued at $873,403.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Barracuda Networks Inc (NYSE:CUDA) traded down 0.26% on Thursday, reaching $23.16. 587,750 shares of the company traded hands. Barracuda Networks Inc has a 1-year low of $13.91 and a 1-year high of $26.69. The firm has a market capitalization of $1.22 billion, a P/E ratio of 121.89 and a beta of 3.43. The stock has a 50-day moving average price of $23.22 and a 200 day moving average price of $23.43.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CUDA. Highbridge Capital Management LLC acquired a new position in Barracuda Networks during the fourth quarter valued at $307,000. Trexquant Investment LP acquired a new position in Barracuda Networks during the fourth quarter valued at $385,000. Bayesian Capital Management LP acquired a new position in Barracuda Networks during the fourth quarter valued at $468,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Barracuda Networks by 8,236.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,841 shares of the company’s stock valued at $506,000 after buying an additional 19,603 shares during the last quarter. Finally, 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 company’s stock valued at $520,000 after buying an additional 17,846 shares during the last quarter. Institutional investors and hedge funds own 57.17% of the company’s stock.
A number of research analysts have recently commented on CUDA shares. Zacks Investment Research lowered shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 20th. Imperial Capital restated an “underperform” rating and set a $21.00 price target (up from $20.00) on shares of Barracuda Networks in a research report on Thursday, January 5th. DA Davidson restated an “underperform” rating and set a $22.00 price target on shares of Barracuda Networks in a research report on Saturday, January 7th. BTIG Research restated a “buy” rating and set a $30.00 price target (up from $28.00) on shares of Barracuda Networks in a research report on Tuesday, January 10th. Finally, Morgan Stanley restated an “equal weight” rating and set a $25.00 price target (up from $22.00) on shares of Barracuda Networks in a research report on Tuesday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Barracuda Networks presently has a consensus rating of “Buy” and an average target price of $25.53.
Barracuda Networks Company Profile
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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