Carbonite Sees Unusually High Options Volume (CARB)

Carbonite, Inc. (NASDAQ:CARB) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 605 put options on the company. This represents an increase of 925% compared to the typical daily volume of 59 put options.

Shares of Carbonite (NASDAQ:CARB) opened at $28.85 on Thursday. The company has a market cap of $776.93, a P/E ratio of -192.32, a P/E/G ratio of 0.70 and a beta of 0.33. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.12 and a current ratio of 1.12. Carbonite has a 52 week low of $18.20 and a 52 week high of $30.65.

Carbonite (NASDAQ:CARB) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $61.69 million for the quarter, compared to analysts’ expectations of $63.72 million. Carbonite had a negative net margin of 1.67% and a positive return on equity of 42.21%. research analysts predict that Carbonite will post 1 earnings per share for the current fiscal year.

In other Carbonite news, SVP Norman Guadagno sold 1,912 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $25.80, for a total value of $49,329.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Paul S. Mellinger sold 1,940 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $25.80, for a total transaction of $50,052.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,096 shares of company stock worth $1,517,037. Corporate insiders own 12.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Brown Advisory Inc. increased its holdings in Carbonite by 24.4% during the 3rd quarter. Brown Advisory Inc. now owns 15,614 shares of the technology company’s stock worth $344,000 after acquiring an additional 3,065 shares during the period. Nationwide Fund Advisors increased its holdings in Carbonite by 29.8% during the 2nd quarter. Nationwide Fund Advisors now owns 14,138 shares of the technology company’s stock worth $308,000 after acquiring an additional 3,250 shares during the period. Cadence Capital Management LLC increased its holdings in Carbonite by 5.1% during the 3rd quarter. Cadence Capital Management LLC now owns 73,109 shares of the technology company’s stock worth $1,608,000 after acquiring an additional 3,553 shares during the period. Virginia Retirement Systems ET AL increased its holdings in Carbonite by 14.2% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 33,800 shares of the technology company’s stock worth $744,000 after acquiring an additional 4,200 shares during the period. Finally, Pembroke Management LTD increased its holdings in Carbonite by 0.4% during the 4th quarter. Pembroke Management LTD now owns 1,250,153 shares of the technology company’s stock worth $31,378,000 after acquiring an additional 4,400 shares during the period. 92.40% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently commented on CARB. BidaskClub upgraded shares of Carbonite from a “sell” rating to a “hold” rating in a research note on Thursday. Lake Street Capital restated a “buy” rating and set a $27.00 price target (up from $25.00) on shares of Carbonite in a research note on Wednesday, February 14th. TheStreet cut shares of Carbonite from a “c+” rating to a “d” rating in a research note on Tuesday, February 13th. Finally, B. Riley upped their price target on shares of Carbonite from $30.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.86.

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About Carbonite

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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