A Major Shareholder at Barracuda Networks (NYSE: CUDA) is Selling Shares

By George MacDonald

Yesterday, a Major Shareholder at Barracuda Networks (NYSE: CUDA), Dean Drako, sold shares of CUDA for $1.22M.

In addition to Dean Drako, 4 other CUDA executives reported Sell trades in the last month. Following Dean Drako’s last CUDA Sell transaction on April 26, 2016, the stock climbed by 2.1%.

Based on Barracuda Networks` latest earnings report from November 30, the company posted quarterly revenue of $80.09M and GAAP net loss of $1.59M. In comparison, last year the company earned revenue of $72.18M and had a GAAP net loss of $68.35M. The company has a one year high of $43.22 and a one year low of $9.44. Currently, Barracuda Networks has an average volume of 524.2k.

Based on 4 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $18.00, reflecting a -2.1% downside.

Looking at blogger coverage of CUDA, there is a 55% Bearish tendency on the stock, in relation to a 75% average bullish tendency within the Technology sector.

In the last 30 days, insiders have sold $2.58M worth of CUDA shares and purchased $85.49k worth of CUDA shares. Over the last 3 months, the insider sentiment on Barracuda Networks has been negative based on 127 corporate insider transactions. This sentiment is lower than the average sector sentiment of insiders.

Barracuda Networks, Inc. engages in the business of designing and delivering security and storage solutions. The company offers cloud-connected solutions that help its customers address security threats, improve network performance and protect and store their data. Its solutions are designed to simplify IT operations for customers, allowing them to enhance their return on technology investment. The company security solutions are designed to protect and optimize the performance of the most critical points within customers IT infrastructures, including email servers, web applications, data centers and core networks. Its storage solutions also allow users to securely and quickly access, share, synchronize and sign files from Internet-connected devices. Barracuda Networks was founded by Dean M. Drako, Michael D. Perone and Zachary S. Levow in 2003 and is headquartered in Campbell, CA.