Bank of New York Mellon Corp grew its stake in Carbonite, Inc. (NASDAQ:CARB) by 13.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,325 shares of the technology company’s stock after purchasing an additional 27,129 shares during the period. Bank of New York Mellon Corp owned approximately 0.82% of Carbonite worth $5,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP grew its position in shares of Carbonite by 17.2% in the second quarter. Quantbot Technologies LP now owns 5,449 shares of the technology company’s stock valued at $118,000 after purchasing an additional 800 shares in the last quarter. Legal & General Group Plc grew its position in shares of Carbonite by 19.5% in the second quarter. Legal & General Group Plc now owns 6,035 shares of the technology company’s stock valued at $132,000 after purchasing an additional 985 shares in the last quarter. B. Riley Financial Inc. grew its position in shares of Carbonite by 3.9% in the second quarter. B. Riley Financial Inc. now owns 27,670 shares of the technology company’s stock valued at $603,000 after purchasing an additional 1,030 shares in the last quarter. Capital Fund Management S.A. grew its position in shares of Carbonite by 3.8% in the second quarter. Capital Fund Management S.A. now owns 37,936 shares of the technology company’s stock valued at $827,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Nationwide Fund Advisors grew its position in shares of Carbonite by 29.8% in the second quarter. Nationwide Fund Advisors now owns 14,138 shares of the technology company’s stock valued at $308,000 after purchasing an additional 3,250 shares in the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.
Carbonite, Inc. (NASDAQ:CARB) opened at $25.10 on Tuesday. Carbonite, Inc. has a twelve month low of $15.30 and a twelve month high of $27.00. The company has a market capitalization of $701.48, a P/E ratio of -228.18, a P/E/G ratio of 2.55 and a beta of 0.37. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.12 and a quick ratio of 1.12.
Carbonite (NASDAQ:CARB) last released its quarterly earnings data 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 analysts’ expectations of $61.49 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. equities analysts anticipate that Carbonite, Inc. will post 0.39 EPS for the current fiscal year.
In other Carbonite news, CFO Anthony Folger sold 7,992 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $23.45, for a total transaction of $187,412.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Paul S. Mellinger sold 7,500 shares of the company’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 disclosure for this sale can be found here. Insiders sold 37,864 shares of company stock worth $862,479 over the last quarter. 12.20% of the stock is currently owned by insiders.
A number of research firms have recently issued reports on CARB. Oppenheimer restated a “buy” rating and issued a $30.00 price target on shares of Carbonite in a research report on Thursday, September 21st. BidaskClub upgraded Carbonite from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. JMP Securities assumed coverage on Carbonite in a report on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Rosenblatt Securities assumed coverage on Carbonite in a report on Monday, September 18th. They issued a “buy” rating and a $28.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.71.
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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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