Why Barracuda’s Co-Founder Sold $36 Million Worth of Stock

Michael D Perone, a Co-Founder & Director of Barracuda Networks, Inc.(NYSE: CUDA) sold 76,062 shares of the company’s stock worth a total of $1.8 million on Wednesday, September 27th. In fact, insiders have sold $36.4 million worth of stock (representing 2.9% of Barracuda’s market cap) since the beginning of September according to Market Beat.