Barracuda Networks, Inc. (CUDA) Holdings Reduced by Trexquant Investment LP

Trexquant Investment LP reduced its position in Barracuda Networks, Inc. (NYSE:CUDA) by 53.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,270 shares of the communications equipment provider’s stock after selling 13,003 shares during the period. Trexquant Investment LP’s holdings in Barracuda Networks were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in CUDA. Renaissance Group LLC grew its position in Barracuda Networks by 2.5% in the second quarter. Renaissance Group LLC now owns 14,118 shares of the communications equipment provider’s stock worth $326,000 after acquiring an additional 343 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of 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. Victory Capital Management Inc. grew its holdings in shares of 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 buying an additional 717 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of 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 buying an additional 828 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Barracuda Networks by 17.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,374 shares of the communications equipment provider’s stock valued at $167,000 after buying an additional 1,104 shares during the last quarter. 75.55% of the stock is currently owned by institutional investors.

Barracuda Networks, Inc. (NYSE CUDA) opened at $27.46 on Thursday. Barracuda Networks, Inc. has a 1 year low of $19.06 and a 1 year high of $27.75. The firm has a market cap of $1,478.39, a PE ratio of 88.97, a P/E/G ratio of 7.36 and a beta of 3.28.

Barracuda Networks (NYSE:CUDA) last released its quarterly earnings results on Tuesday, October 10th. The communications equipment provider reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Barracuda Networks had a net margin of 2.52% and a return on equity of 197.30%. The firm 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 earned $0.21 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. research analysts forecast that Barracuda Networks, Inc. will post 0.31 earnings per share for the current year.

Several equities research analysts have commented on the stock. BTIG Research lowered shares of Barracuda Networks from a “buy” rating to a “neutral” rating in a report on Monday, November 27th. Needham & Company LLC lowered shares of Barracuda Networks from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Stifel Nicolaus reissued a “buy” rating and set a $32.00 target price on shares of Barracuda Networks in a research note on Tuesday, September 12th. Robert W. Baird reissued a “buy” rating and set a $29.00 target price on shares of Barracuda Networks in a research note on Tuesday, October 24th. Finally, Zacks Investment Research lowered shares of Barracuda Networks from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.10.

In related news, CFO Dustin Driggs sold 5,135 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $24.85, for a total transaction of $127,604.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Jenkins, Jr. sold 16,500 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $24.30, for a total transaction of $400,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,294,018 shares of company stock valued at $56,779,572 in the last 90 days. Insiders own 13.90% of the company’s stock.

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Barracuda Networks 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.

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

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