Two Sigma Advisers LP Trims Holdings in Carbonite (CARB)

Two Sigma Advisers LP reduced its holdings in shares of Carbonite (NASDAQ:CARB) by 75.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,557 shares of the technology company’s stock after selling 71,700 shares during the period. Two Sigma Advisers LP owned about 0.08% of Carbonite worth $591,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CARB. New York State Common Retirement Fund increased its holdings in Carbonite by 331.4% during 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 buying an additional 216,824 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Carbonite by 13.4% during the third quarter. Bank of New York Mellon Corp now owns 229,325 shares of the technology company’s stock valued at $5,045,000 after buying an additional 27,129 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Carbonite by 131.6% during the third quarter. Ameriprise Financial Inc. now owns 151,979 shares of the technology company’s stock valued at $3,344,000 after buying an additional 86,346 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Carbonite by 4.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,103,160 shares of the technology company’s stock valued at $24,270,000 after buying an additional 46,260 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Carbonite by 71.2% during the third quarter. Public Employees Retirement System of Ohio now owns 256,869 shares of the technology company’s stock valued at $5,651,000 after buying an additional 106,869 shares during the last quarter. 93.36% of the stock is owned by institutional investors and hedge funds.

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Shares of NASDAQ CARB opened at $30.50 on Friday. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $885.00, a PE ratio of 61.00, a PEG ratio of 0.78 and a beta of 0.17. Carbonite has a 1 year low of $18.30 and a 1 year high of $33.55.

Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The firm had revenue of $61.69 million during 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 38.08%. research analysts predict that Carbonite will post 1 earnings per share for the current fiscal year.

A number of brokerages have commented on CARB. Zacks Investment Research cut shares of Carbonite from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub raised shares of Carbonite from a “hold” rating to a “buy” rating in a report on Friday, March 9th. Finally, TheStreet cut shares of Carbonite from a “c+” rating to a “d” rating in a report on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $30.14.

In other news, SVP Paul S. Mellinger sold 1,506 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $21.15, for a total value of $31,851.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Norman Guadagno sold 1,134 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.70, for a total transaction of $26,875.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,623 shares of company stock valued at $1,809,948. Corporate insiders own 9.80% of the company’s stock.

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About Carbonite

Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

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Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

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