Wells Fargo & Company MN grew its stake in Barracuda Networks Inc (NYSE:CUDA) by 202.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,843 shares of the communications equipment provider’s stock after buying an additional 211,394 shares during the period. Wells Fargo & Company MN owned approximately 0.59% of Barracuda Networks worth $7,653,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of Barracuda Networks by 17.6% in the 2nd 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 in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Barracuda Networks in the 2nd quarter valued at $113,000. Legal & General Group Plc boosted its stake in shares of Barracuda Networks by 15.7% in the 2nd 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 in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Barracuda Networks in the 3rd quarter valued at $162,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Barracuda Networks by 17.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock valued at $167,000 after purchasing an additional 1,104 shares in the last quarter. 75.79% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Michael D. Hughes sold 1,390 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $21.97, for a total value of $30,538.30. Following the transaction, the senior vice president now owns 155,118 shares in the company, valued at approximately $3,407,942.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dustin Driggs sold 1,250 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.10, for a total transaction of $28,875.00. Following the completion of the transaction, the chief financial officer now owns 102,905 shares in the company, valued at approximately $2,377,105.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,655 shares of company stock worth $104,952 over the last three months. 13.90% of the stock is currently owned by insiders.
CUDA has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Barracuda Networks from a “sell” rating to a “strong sell” rating in a report on Saturday, September 23rd. KeyCorp reiterated a “buy” rating and set a $30.00 price target on shares of Barracuda Networks in a report on Friday, November 10th. Robert W. Baird reiterated a “buy” rating and set a $29.00 price target on shares of Barracuda Networks in a report on Wednesday, October 11th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a report on Monday, October 9th. Finally, ValuEngine upgraded shares of Barracuda Networks from a “sell” rating to a “hold” rating in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $28.19.
Shares of Barracuda Networks Inc (NYSE CUDA) opened at $27.50 on Friday. Barracuda Networks Inc has a 1 year low of $19.06 and a 1 year high of $27.95. The company has a market cap of $1,475.99, a PE ratio of 98.21, a P/E/G ratio of 7.24 and a beta of 3.28.
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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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