There has been some selling insider activity on Barracuda Networks, Inc. (NYSE:CUDA) recently. VP Diane Honda sold 975 shares at an average price of $24.00 on July 10th. That brings the VP’s holdings to $2,210,016 per an SEC filing yesterday. Michael D. Perone, Director let go of $9,725,838 worth of shares at an average price of $24.13 on Mon the 10th. The Director now owns $18,830,232 of the stock as recorded in a recent Form 4 SEC filing.
William D. Jr Jenkins, CEO sold $1,936,300 worth of shares at an average price of $24.02 on Mon the 10th. That brings Jenkins’s holdings to $14,919,014 as reported to the SEC.
Barracuda Networks, Inc., launched on November 17, 2004, 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 (IT) operations for its customers. Its subscription-based security and data protection solutions are connected to its cloud services, which enable continuous software updates, offsite redundancy and distributed capacity. Its solutions are delivered as cloud-enabled appliances and virtual appliances, as well as cloud-only solutions. Its appliances and virtual appliances leverage its cloud services to deliver hybrid cloud-enabled solutions to its customers. These hybrid solutions enable it to optimize usage of on-premises hardware required while simultaneously leveraging the cloud. Its data protection solutions are designed to backup and archive business-critical data and make such data accessible for purposes, such as compliance, disaster recovery and business intelligence. Its data protection solutions also allow users to access and sign files from Internet-connected devices. Its solutions can be managed centrally in any size or type of deployment through integrated Web interfaces that support configuration, monitoring and reporting..
Here are a few additional firms who have increased or decreased their stake in (CUDA). As of quarter end Morgan Stanley had disposed of 20,816 shares trimming its holdings by 97.6%. The value of the investment in CUDA went from $457,000 to $12,000 a change of 97.4% quarter over quarter. As of the end of the quarter Goldman Sachs Group Inc had bought a total of 48,064 shares growing its position 497.6%. The value of the total investment in Barracuda Networks, Inc. increased from $207,000 to $1,334,000 increasing 544.4% quarter to quarter.
Clearbridge Investments, LLC grew its investment by buying 16,324 shares an increase of 0.8% in the quarter. Clearbridge Investments, LLC now holds 2,034,008 shares worth $47,006,000. The value of the position overall is up by 8.7%. As of the end of the quarter Alyeska Investment Group, L.p. had bought 141,949 shares growing its stake by 14.8%. The value of the investment in Barracuda Networks, Inc. increased from $20,592,000 to $25,486,000 a change of $4,894,000 for the reporting period.
Baird started covering CUDA by announcing an initial rating of “Outperform”. On October 12 the company was upgraded to “Equal-Weight” from “Equal-weight” with a current price target of $23.00 by analysts at Morgan Stanley.
On October 12 the stock rating was upgraded from “” to “Buy” and a price target of $28.00 was set in an announcement from PiperJaffray. On October 12 the company was upgraded to “Equal-Weight” from “Buy” and a price target of $23.00 was set in a statement from BTIG Research.
Morgan Stanley upgraded the stock and raised the price target on October 12 changing the price target from $15.00 to $23.00 and raising the rating from “Equal-weight” to “Equal-Weight”. Equity analyst Imperial Capital both downgraded the stock and raised the price target on October 4 boosting the price target from $16.00 to $20.00 and changing the rating from “In-line” to “Underperform”.
The company is unchanged since yesterday’s close of $23.18. It is trading at $23.18 a bit higher than the 50 day moving average of $22.41 and which is marginally over the 200 day moving average of $22.65. The 50 day moving average was up $0.77 or +3.45% and the 200 day average moved up $0.53.
Barracuda Networks, Inc.’s P/E ratio is 122.00 and the market cap of the company is 1.23B. In the latest earnings report the EPS was $0.19 and is estimated to be $0.77 for the current year with 52,875,000 shares outstanding. Next quarter’s EPS is forecasted at $0.19 with next year’s EPS projected to be $0.87.