Economy

Private Equity Firm Thoma Bravo Snaps Up Barracuda Networks

Private Equity Firm Thoma Bravo Snaps Up Barracuda Networks

Once the deal is complete, Barracuda Networks Inc will act as a private company. Stifel Nicolaus reiterated a "buy" rating and set a $32.00 target price on shares of Barracuda Networks in a research report on Tuesday, September 12th. The Company's LED chips may also be used in specialty industrial applications, such as ultraviolet (UV), curing of polymers, LED light therapy in medical/cosmetic applications, counterfeit detection, LED lighting for horticulture applications, architectural lighting and entertainment lighting. Morgan Stanley downgraded the stock to "Equal-Weight" rating in Friday, January 8 report.

Barracuda provides email protection tools and has been transitioning to cloud-based security from network hardware. BidaskClub upgraded Barracuda Networks from a "strong sell" rating to a "sell" rating in a report on Friday, September 8th. The same analysts have a future one-year price target of $28.71 on the shares.

Barracuda Networks Inc (NYSE:CUDA) had its price target lowered by investment analysts at DA Davidson from $25.00 to $23.00 in a report released on Tuesday, April 18th. BWS Financial initiated Barracuda Networks Inc (NYSE:CUDA) rating on Friday, October 30. The stock of Barracuda Networks Inc (NYSE:CUDA) earned "Buy" rating by Piper Jaffray on Monday, July 10. The communications equipment provider reported $0.17 EPS for the quarter, meeting the Thomson Reuters' consensus estimate of $0.17. Barracuda Networks had a return on equity of 197.30% and a net margin of 2.52%. They expect $1.54 EPS, up 6.21% or $0.09 from last year's $1.45 per share.

According to analysts Barracuda Networks Inc (NYSE:CUDA)'s minimum EPS for the current quarter is at $0.17 and can go high up to $0.19. Citadel holds 0% of its portfolio in Barracuda Networks Inc (NYSE:CUDA) for 99,796 shares. The shares were sold at an average price of $21.97, for a total value of $30,538.30. Following the completion of the transaction, the chief executive officer now owns 588,108 shares in the company, valued at approximately $14,126,354.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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In related news, SVP Michael D. Hughes sold 1,390 shares of the business's stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $24.03, for a total transaction of $30,037.50. The disclosure for this sale can be found here. Walleye Trading Limited Co holds 0% or 3,935 shares. Sentinel Asset Management, Vermont-based fund reported 621,930 shares. Renaissance Group LLC boosted its position in Barracuda Networks by 2.5% during the 2nd quarter. They now have a $30.00 price objective on the communications equipment provider's stock. Francisco Partners Management LP acquired a new stake in shares of Barracuda Networks during the fourth quarter valued at approximately $56,797,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Barracuda Networks by 17.6% in the 2nd quarter. Legal & General Group Plc now owns 6,112 shares of the communications equipment provider's stock worth $140,000 after purchasing an additional 828 shares during the last quarter. Parametric Portfolio Associates LLC now owns 33,590 shares of the communications equipment provider's stock worth $776,000 after purchasing an additional 655 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in Barracuda Networks by 51.7% during the first quarter. D E Shaw Com Inc has 0.01% invested in Barracuda Networks Inc (NYSE:CUDA) for 164,695 shares.

On the other hand the company has Relative Strength Index (RSI 14) of 80.11 along with Average True Range (ATR 14) of 0.71, Consequently Barracuda Networks Inc (NYSE:CUDA)'s weekly and monthly volatility is 1.97%, 1.97% respectively.

CUDA has been the subject of several other research reports. If you are accessing this story on another domain, it was stolen and republished in violation of worldwide copyright and trademark legislation.

Barracuda, which manages data security of its customers over the cloud on a subscription basis, competes with Palo Alto Networks Inc, Proofpoint Inc and Symantec Corp. The Company's solutions are created to manage information technology activities for its customers.