Bank of New York Mellon Corp lifted its holdings in shares of Carbonite, Inc. (NASDAQ:CARB) by 13.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,325 shares of the technology company’s stock after purchasing an additional 27,129 shares during the quarter. Bank of New York Mellon Corp owned 0.82% of Carbonite worth $5,045,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Common Retirement Fund lifted its position in Carbonite by 331.4% in the third quarter. New York State Common Retirement Fund now owns 282,249 shares of the technology company’s stock valued at $6,209,000 after purchasing an additional 216,824 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Carbonite during the third quarter valued at approximately $1,053,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Carbonite by 3.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 180,440 shares of the technology company’s stock valued at $3,970,000 after acquiring an additional 6,604 shares in the last quarter. Northpointe Capital LLC raised its holdings in shares of Carbonite by 7.9% during the third quarter. Northpointe Capital LLC now owns 608,526 shares of the technology company’s stock valued at $13,388,000 after acquiring an additional 44,533 shares in the last quarter. Finally, P.A.W. Capital Corp bought a new position in shares of Carbonite during the third quarter valued at approximately $2,860,000. 94.21% of the stock is owned by institutional investors.
Shares of Carbonite, Inc. (NASDAQ:CARB) opened at $25.70 on Wednesday. Carbonite, Inc. has a 12 month low of $15.90 and a 12 month high of $27.00. The company has a market capitalization of $728.03, a price-to-earnings ratio of -214.17, a PEG ratio of 2.08 and a beta of 0.37. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 3.12.
Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.25 EPS for the quarter, beating the consensus estimate 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 company had revenue of $61.60 million for the quarter, compared to analysts’ expectations of $61.49 million. During the same period last year, the firm posted $0.14 earnings per share. Carbonite’s revenue was up 18.7% compared to the same quarter last year. equities research analysts anticipate that Carbonite, Inc. will post 0.39 EPS for the current year.
In other Carbonite news, Director Todd Krasnow sold 10,000 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $23.16, for a total value of $231,600.00. Following the transaction, the director now owns 227,230 shares of the company’s stock, valued at $5,262,646.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Paul S. Mellinger sold 7,500 shares of the firm’s stock in a transaction dated 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 have sold 41,716 shares of company stock worth $961,860 over the last ninety days. 12.20% of the stock is currently owned by insiders.
A number of equities analysts recently commented on the company. Oppenheimer restated a “buy” rating and set a $30.00 target price on shares of Carbonite in a report on Thursday, September 21st. JMP Securities assumed coverage on Carbonite in a report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 target price for the company. Finally, BidaskClub raised Carbonite from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.71.
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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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