Carbonite, Inc. (NASDAQ:CARB) SVP Paul S. Mellinger sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $22.10, for a total transaction of $165,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Carbonite, Inc. (NASDAQ:CARB) opened at $22.30 on Friday. The stock has a market capitalization of $623.22, a P/E ratio of 92.92, a P/E/G ratio of 2.30 and a beta of 0.33. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.21 and a current ratio of 1.12. Carbonite, Inc. has a 12-month low of $15.04 and a 12-month high of $27.00.
Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, November 2nd. The technology company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The firm had revenue of $61.60 million during the quarter, compared to analysts’ expectations of $61.49 million. Carbonite had a negative net margin of 1.32% and a positive return on equity of 32.85%. Carbonite’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. analysts predict that Carbonite, Inc. will post 0.39 earnings per share for the current fiscal year.
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A number of equities research analysts recently commented on CARB shares. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $30.00 price objective on shares of Carbonite in a research report on Thursday, September 21st. B. Riley reiterated a “buy” rating and set a $26.00 price target on shares of Carbonite in a research report on Wednesday, August 2nd. JMP Securities initiated coverage on shares of Carbonite in a research report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 price target for the company. BidaskClub downgraded shares of Carbonite from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, TheStreet upgraded shares of Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $27.71.
A number of hedge funds have recently added to or reduced their stakes in CARB. Legal & General Group Plc grew its stake in Carbonite by 5.5% in the 1st quarter. Legal & General Group Plc now owns 5,050 shares of the technology company’s stock worth $101,000 after acquiring an additional 265 shares during the period. Quantbot Technologies LP grew its stake in Carbonite by 17.2% in the 2nd quarter. Quantbot Technologies LP now owns 5,449 shares of the technology company’s stock worth $118,000 after acquiring an additional 800 shares during the period. American International Group Inc. grew its stake in Carbonite by 7.1% in the 1st quarter. American International Group Inc. now owns 10,951 shares of the technology company’s stock worth $222,000 after acquiring an additional 728 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Carbonite in the 2nd quarter worth approximately $231,000. Finally, Voya Investment Management LLC purchased a new stake in Carbonite in the 2nd quarter worth approximately $236,000. 96.85% of the stock is owned by hedge funds and other institutional investors.
Carbonite Company Profile
Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.
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