Engineers Gate Manager LP lessened its stake in shares of Barracuda Networks Inc (NYSE:CUDA) by 82.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,275 shares of the communications equipment provider’s stock after selling 48,426 shares during the quarter. Engineers Gate Manager LP’s holdings in Barracuda Networks were worth $283,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of CUDA. Pinebridge Investments L.P. acquired a new position in Barracuda Networks in the third quarter valued at $121,000. Teachers Retirement System of The State of Kentucky acquired a new position in Barracuda Networks in the third quarter valued at $162,000. Exane Derivatives lifted its holdings in Barracuda Networks by 1,004.9% in the third quarter. Exane Derivatives now owns 7,624 shares of the communications equipment provider’s stock valued at $185,000 after buying an additional 6,934 shares during the period. American Capital Management Inc. acquired a new position in shares of Barracuda Networks during the fourth quarter valued at about $231,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Barracuda Networks during the third quarter valued at about $212,000. 75.84% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on CUDA shares. BidaskClub upgraded shares of Barracuda Networks from a “sell” rating to a “hold” rating in a report on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a research report on Friday, November 10th. Rosenblatt Securities downgraded shares of Barracuda Networks from a “buy” rating to a “neutral” rating in a research report on Monday, November 27th. Piper Jaffray Companies downgraded shares of Barracuda Networks from an “overweight” rating to a “neutral” rating in a research report on Monday, November 27th. Finally, Stifel Nicolaus downgraded shares of Barracuda Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $28.19.
Barracuda Networks (NYSE:CUDA) last announced its earnings results on Monday, January 8th. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $94.75 million for the quarter, compared to the consensus estimate of $93.85 million. Barracuda Networks had a net margin of 4.09% and a return on equity of 74.59%. sell-side analysts predict that Barracuda Networks Inc will post 0.31 EPS for the current year.
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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.
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