Falcon Point Capital LLC reduced its stake in shares of Carbonite, Inc. (NASDAQ:CARB) by 38.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 51,413 shares of the technology company’s stock after selling 31,621 shares during the period. Falcon Point Capital LLC owned about 0.18% of Carbonite worth $1,290,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc increased its holdings in Carbonite by 19.5% during the 2nd quarter. Legal & General Group Plc now owns 6,035 shares of the technology company’s stock worth $132,000 after purchasing an additional 985 shares in the last quarter. Fortaleza Asset Management Inc. bought a new stake in Carbonite during the 4th quarter worth approximately $167,000. Oppenheimer Asset Management Inc. increased its holdings in Carbonite by 167.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,370 shares of the technology company’s stock worth $162,000 after purchasing an additional 4,612 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Carbonite during the 2nd quarter worth approximately $231,000. Finally, Voya Investment Management LLC bought a new stake in Carbonite during the 2nd quarter worth approximately $236,000. 92.56% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Paul S. Mellinger sold 1,940 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $25.80, for a total value of $50,052.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Anthony Folger sold 7,992 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $23.45, for a total value of $187,412.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,137 shares of company stock valued at $1,049,573. 12.20% of the stock is currently owned by corporate insiders.
Carbonite, Inc. (CARB) opened at $21.70 on Wednesday. The stock has a market capitalization of $591.09, a P/E ratio of -197.27, a PEG ratio of 1.69 and a beta of 0.33. 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, Inc. has a twelve month low of $18.20 and a twelve month high of $27.00.
Carbonite (NASDAQ:CARB) last released its earnings results on Tuesday, February 13th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. analysts anticipate that Carbonite, Inc. will post 0.39 EPS for the current year.
A number of analysts have commented on the company. B. Riley boosted their price objective on Carbonite from $30.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday. BidaskClub lowered Carbonite from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, JMP Securities assumed coverage on Carbonite in a report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.29.
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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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