Barracuda Networks Inc (CUDA) Position Trimmed by Texas Permanent School Fund

Texas Permanent School Fund reduced its position in Barracuda Networks Inc (NYSE:CUDA) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,538 shares of the communications equipment provider’s stock after selling 1,850 shares during the period. Texas Permanent School Fund owned about 0.05% of Barracuda Networks worth $757,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pinebridge Investments L.P. bought a new stake in Barracuda Networks in the 3rd quarter worth approximately $121,000. Teachers Retirement System of The State of Kentucky bought a new stake in Barracuda Networks in the 3rd quarter worth approximately $162,000. Exane Derivatives grew its position in Barracuda Networks by 1,004.9% in the 3rd quarter. Exane Derivatives now owns 7,624 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 6,934 shares during the period. Piedmont Investment Advisors LLC bought a new stake in Barracuda Networks in the 3rd quarter worth approximately $212,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Barracuda Networks in the 2nd quarter worth approximately $243,000. 75.84% of the stock is owned by institutional investors and hedge funds.

Shares of Barracuda Networks Inc (NYSE:CUDA) opened at $27.54 on Friday. Barracuda Networks Inc has a 1 year low of $19.06 and a 1 year high of $27.95. The stock has a market cap of $1,480.00, a price-to-earnings ratio of 98.36, a PEG ratio of 7.52 and a beta of 3.06.

Barracuda Networks (NYSE:CUDA) last issued its quarterly earnings data on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Barracuda Networks had a net margin of 4.09% and a return on equity of 74.59%. The business had revenue of $94.75 million for the quarter, compared to the consensus estimate of $93.85 million. equities analysts anticipate that Barracuda Networks Inc will post 0.31 earnings per share for the current year.

A number of equities research analysts have commented on the stock. Stifel Nicolaus downgraded shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 27th. Zacks Investment Research downgraded shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. BidaskClub raised shares of Barracuda Networks from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and issued a $30.00 target price on shares of Barracuda Networks in a research report on Friday, November 10th. Finally, Rosenblatt Securities downgraded shares of Barracuda Networks from a “buy” rating to a “neutral” rating in a research report on Monday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Barracuda Networks currently has an average rating of “Hold” and an average target price of $28.19.

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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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