Trexquant Investment LP purchased a new stake in Carbonite Inc (NASDAQ:CARB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,264 shares of the technology company’s stock, valued at approximately $509,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. WINTON GROUP Ltd boosted its stake in Carbonite by 17.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,692 shares of the technology company’s stock valued at $303,000 after purchasing an additional 1,298 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Carbonite by 20.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 9,634 shares of the technology company’s stock valued at $336,000 after purchasing an additional 1,618 shares during the period. Aperio Group LLC boosted its stake in Carbonite by 10.3% in the 2nd quarter. Aperio Group LLC now owns 20,941 shares of the technology company’s stock valued at $731,000 after purchasing an additional 1,955 shares during the period. Lisanti Capital Growth LLC raised its holdings in Carbonite by 2.7% in the 3rd quarter. Lisanti Capital Growth LLC now owns 87,980 shares of the technology company’s stock valued at $3,136,000 after acquiring an additional 2,338 shares in the last quarter. Finally, Pembroke Management LTD raised its holdings in Carbonite by 0.3% in the 3rd quarter. Pembroke Management LTD now owns 1,067,749 shares of the technology company’s stock valued at $38,065,000 after acquiring an additional 3,125 shares in the last quarter.
Carbonite stock opened at $27.61 on Wednesday. Carbonite Inc has a 52 week low of $20.50 and a 52 week high of $43.63. The firm has a market cap of $979.03 million, a PE ratio of 55.22, a price-to-earnings-growth ratio of 1.26 and a beta of 0.69.
Carbonite (NASDAQ:CARB) last posted its quarterly earnings results on Thursday, November 1st. The technology company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Carbonite had a return on equity of 29.30% and a net margin of 1.85%. The company had revenue of $79.10 million during the quarter, compared to analysts’ expectations of $80.15 million. During the same quarter in the previous year, the firm earned $0.25 EPS. Carbonite’s revenue was up 25.4% on a year-over-year basis. Research analysts expect that Carbonite Inc will post 1.13 earnings per share for the current fiscal year.
In other news, CEO Mohamad Ali sold 4,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $28.25, for a total transaction of $113,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony Folger sold 1,611 shares of the business’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $27.95, for a total value of $45,027.45. The disclosure for this sale can be found here. Insiders have sold a total of 81,531 shares of company stock valued at $2,802,893 in the last three months. 9.80% of the stock is owned by insiders.
Several equities analysts have weighed in on CARB shares. Royal Bank of Canada started coverage on Carbonite in a report on Friday, October 5th. They issued an “outperform” rating and a $42.00 price objective for the company. CIBC reaffirmed a “market perform” rating on shares of Carbonite in a report on Friday, November 2nd. BidaskClub raised Carbonite from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Oppenheimer reaffirmed a “market perform” rating on shares of Carbonite in a report on Friday, November 2nd. Finally, Zacks Investment Research cut Carbonite from a “buy” rating to a “hold” rating in a report on Monday, November 12th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Carbonite currently has an average rating of “Buy” and an average price target of $38.58.
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Carbonite Company Profile
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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