Here is the rundown on market activity for Barracuda Networks, Inc. (NYSE:CUDA). VP Diane Honda sold 975 shares at an average price of $24.00 on Mon the 10th. The VP now owns $2,210,016 of the stock per an SEC filing yesterday. Michael D. Perone, Director reported the sale of 403,060 shares of CUDA stock. The shares were sold on July 10th for an average price of $24.13. The Director now owns $18,830,232 of the stock according to the SEC filing.
CEO William D. Jr Jenkins sold 80,612 shares at an average price of $24.02 on Mon the 10th. Jenkins now owns $14,919,014 of stock as recorded in a recent Form 4 SEC filing.
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..
The following firms have also recently changed their position in CUDA. As of quarter end Morgan Stanley had disposed of a total of 20,816 shares trimming its holdings by 97.6%. The value of the investment in Barracuda Networks, Inc. decreased from $457,000 to $12,000 a change of $445,000 quarter to quarter. As of the end of the quarter Goldman Sachs Group Inc had bought 48,064 shares growing its position 497.6%. The value of the total investment in Barracuda Networks, Inc. went from $207,000 to $1,334,000 a change of 544.4% for the reporting period.
Clearbridge Investments, LLC bolstered its stake by buying 16,324 shares an increase of 0.8% in the quarter. Clearbridge Investments, LLC now holds 2,034,008 shares with a value of $47,006,000. The value of the position overall is up by 8.7%. As of quarter end Alyeska Investment Group, L.p. had acquired a total of 141,949 shares growing its position 14.8%. The value of the investment in (CUDA) went from $20,592,000 to $25,486,000 a change of $4,894,000 for the reporting period.
Baird released its first research report on the stock by announcing an initial rating of “Outperform”. On October 12 the stock rating was upgraded from “” to “Buy” with a current price target of $28.00 by analysts at PiperJaffray.
On October 12 the company was upgraded to “Equal-Weight” from “Buy” and a price target of $23.00 was set in an announcement from BTIG Research. Equity analyst Morgan Stanley both upgraded the stock and raised the price target on October 12 changing the price target from $15.00 to $23.00 and changing the rating from “Equal-weight” to “Equal-Weight”.
On October 12 the stock rating was upgraded to “Equal-Weight” from “Equal-weight” with a current price target of $23.00 in a report issued by Morgan Stanley. Imperial Capital raised the price target and downgraded the stock on October 4 changing the price objective from $16.00 to $20.00 and moving the rating from “In-line” to “Underperform”.
The company is now unchanged since yesterday’s close of $23.18. The stock last traded at $23.18 marginally over $22.41, the stock’s 50 day moving average and which is marginally higher than the 200 day moving average of $22.65. The 50 day moving average was up $0.77 and the 200 day average went up by +2.33%.
The P/E ratio is currently 122.00 and market capitalization is 1.23B. In the latest earnings report the EPS was $0.19 and is expected to be $0.77 for the current year with 52,875,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $0.19 and the next full year EPS is projected to be $0.87.