Five Under-the-Radar Tech Stocks that Okumus Fund Loves

Barracuda Networks Inc (NYSE:CUDA)

– Shares Owned by Okumus Fund (as of June 30): 3.08 million

– Value of Okumus Fund holding (as of June 30): $46.58 million

Barracuda Networks Inc (NYSE:CUDA) was another stock in which Okumus Fund Management reduced its stake by 31% to 3.08 million shares worth $46.58 million. For the first quarter of fiscal 2017, the company reported revenue of $86.65 million, which topped estimates by $2.81 million, while EPS of $0.20 was higher than expectations of $0.11. The company strengthened its leadership team by bringing in Hatem Naguib and Ezra Hookano as vice presidents to drive security business and channel management. The company is expected to release its fiscal second-quarter results next week with the consensus among analysts including EPS of $0.13 and revenue of $85.30 million. A total of eight investors in our database were bullish on Barracuda Networks Inc (NYSE:CUDA) at the end of June, compared to 11 funds a quarter earlier.

Bazaarvoice Inc (NASDAQ:BV)

– Shares Owned by Okumus Fund (as of June 30): 2.81 million

– Value of Okumus Fund holding (as of June 30): $11.26 million

Okumus Fund Management’s stake in Bazaarvoice Inc (NASDAQ:BV) remained unchanged at 2.81 million shares reportedly worth $11.26 million at the end of the second quarter. Bazaarvoice’s stock has surged by almost 35% year-to-date. The company has recently formed a partnership with Social Media Link (SML), which is expected to provide bigger and better levels of customer management. Bazaarvoice Inc (NASDAQ:BV) expects to offer authentic review content for shoppers and also build credibility. During the second quarter, the number of funds tracked by Insider Monkey that held shares of Bazaarvoice inched down by one to 17.

Endurance International Group Hldgs Inc (NASDAQ:EIGI)

– Shares Owned by Okumus Fund (as of June 30): 998,221

– Value of Okumus Fund holding (as of June 30): $8.97 million

Okumus Fund Management initiated a stake in Endurance International Group Hldgs Inc (NASDAQ:EIGI) during the second quarter and held 998,221 shares valued at $8.97 million at the end of June. Endurance International’s stock has slid by more than 18% since the beginning of the year as the company missed first-quarter EPS estimates (but beat revenue estimates) and reported worse-than-expected revenue and earnings for the second quarter. Endurance International Group Hldgs Inc (NASDAQ:EIGI) posted second-quarter revenue of $292.58 million missing estimates by $7.05 million, while net loss of $0.21 was way below the expected net income of $0.34 per share. Among the funds we track, six funds held $62.62 million worth of Endurance International Group’s stock at the end of June, down from seven funds with positions valued at $$74.88 million at the end of March.

Disclosure: None