Carbonite, Inc. (NASDAQ:CARB) SVP Paul S. Mellinger sold 7,500 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $22.10, for a total value of $165,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Carbonite, Inc. (NASDAQ:CARB) opened at $22.95 on Tuesday. The firm has a market capitalization of $639.99, a price-to-earnings ratio of 96.88, a P/E/G ratio of 2.36 and a beta of 0.33. Carbonite, Inc. has a 52-week low of $15.04 and a 52-week high of $27.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 3.12.
Carbonite (NASDAQ:CARB) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. The firm had revenue of $61.60 million for the quarter, compared to the consensus estimate of $61.49 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. equities analysts predict that Carbonite, Inc. will post 0.39 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of CARB. Russell Investments Group Ltd. grew its stake in Carbonite by 192.9% in the second quarter. Russell Investments Group Ltd. now owns 1,382,650 shares of the technology company’s stock valued at $30,143,000 after purchasing an additional 910,533 shares in the last quarter. Hood River Capital Management LLC grew its stake in Carbonite by 132.3% in the second quarter. Hood River Capital Management LLC now owns 783,723 shares of the technology company’s stock valued at $17,085,000 after purchasing an additional 446,308 shares in the last quarter. Vanguard Group Inc. grew its stake in Carbonite by 41.5% in the first quarter. Vanguard Group Inc. now owns 1,468,756 shares of the technology company’s stock valued at $29,816,000 after purchasing an additional 430,556 shares in the last quarter. Elk Creek Partners LLC purchased a new position in Carbonite in the third quarter valued at about $7,856,000. Finally, Dimensional Fund Advisors LP grew its stake in Carbonite by 54.3% in the first quarter. Dimensional Fund Advisors LP now owns 807,557 shares of the technology company’s stock valued at $16,393,000 after purchasing an additional 284,133 shares in the last quarter. Hedge funds and other institutional investors own 94.20% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $26.00 target price on shares of Carbonite in a research report on Monday, August 7th. Barclays PLC reissued an “equal weight” rating and set a $27.00 price target (up from $26.00) on shares of Carbonite in a research report on Friday, August 4th. Rosenblatt Securities assumed coverage on Carbonite in a research report on Monday, September 18th. They set a “buy” rating and a $28.00 price target on the stock. TheStreet raised Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. Finally, BidaskClub lowered Carbonite from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $27.71.
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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