TIAA CREF Investment Management LLC Raises Position in Barracuda Networks, Inc. (NYSE:CUDA)

TIAA CREF Investment Management LLC boosted its position in shares of Barracuda Networks, Inc. (NYSE:CUDA) by 51.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 196,822 shares of the communications equipment provider’s stock after buying an additional 67,118 shares during the period. TIAA CREF Investment Management LLC owned about 0.37% of Barracuda Networks worth $4,549,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Asset Management One Co. Ltd. raised its stake in shares of Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 177 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Barracuda Networks by 9.5% in the first quarter. Acrospire Investment Management LLC now owns 6,900 shares of the communications equipment provider’s stock worth $159,000 after buying an additional 600 shares during the last quarter. US Bancorp DE raised its stake in shares of Barracuda Networks by 170.8% in the first quarter. US Bancorp DE now owns 8,226 shares of the communications equipment provider’s stock worth $191,000 after buying an additional 5,188 shares during the last quarter. LGL Partners LLC purchased a new stake in shares of Barracuda Networks during the first quarter worth about $232,000. Finally, Nine Chapters Capital Management LLC purchased a new stake in shares of Barracuda Networks during the first quarter worth about $243,000. Hedge funds and other institutional investors own 62.77% of the company’s stock.

Shares of Barracuda Networks, Inc. (CUDA) opened at 23.18 on Friday. Barracuda Networks, Inc. has a one year low of $19.06 and a one year high of $26.69. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 122.00 and a beta of 3.33. The stock’s 50 day moving average price is $22.76 and its 200 day moving average price is $22.76.

Barracuda Networks (NYSE:CUDA) last released its quarterly earnings data on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The business had revenue of $94.18 million during the quarter, compared to analysts’ expectations of $91.18 million. Barracuda Networks had a net margin of 2.81% and a negative return on equity of 1,770.56%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS. Analysts forecast that Barracuda Networks, Inc. will post $0.76 earnings per share for the current year.

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A number of analysts have weighed in on CUDA shares. Robert W. Baird restated a “buy” rating on shares of Barracuda Networks in a report on Tuesday, July 11th. Northland Securities restated a “buy” rating and set a $28.00 target price on shares of Barracuda Networks in a report on Friday, June 30th. Rosenblatt Securities restated a “buy” rating and set a $30.00 target price on shares of Barracuda Networks in a report on Wednesday, April 19th. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price on shares of Barracuda Networks in a report on Tuesday, April 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Barracuda Networks in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Barracuda Networks has a consensus rating of “Buy” and a consensus target price of $26.59.

In related news, VP Diane Honda sold 7,026 shares of the business’s stock in a transaction on Saturday, July 1st. The shares were sold at an average price of $22.89, for a total value of $160,825.14. Following the completion of the sale, the vice president now directly owns 100,085 shares of the company’s stock, valued at $2,290,945.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael D. Perone sold 403,060 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $24.13, for a total transaction of $9,725,837.80. Following the completion of the sale, the director now directly owns 3,112,640 shares of the company’s stock, valued at $75,108,003.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 504,983 shares of company stock valued at $12,136,578. Corporate insiders own 13.90% of the company’s stock.

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.

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

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