Carbonite Inc (NASDAQ:CARB) CEO Mohamad Ali sold 4,000 shares of Carbonite stock in a transaction dated 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 SEC, which can be accessed through this hyperlink.
NASDAQ:CARB opened at $27.61 on Thursday. Carbonite Inc has a one year low of $20.50 and a one year high of $43.63. The stock has a market capitalization of $954.15 million, a PE ratio of 55.22, a price-to-earnings-growth ratio of 1.22 and a beta of 0.69.
Carbonite (NASDAQ:CARB) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $79.10 million during the quarter, compared to analyst estimates of $80.15 million. Carbonite had a net margin of 1.85% and a return on equity of 29.30%. Carbonite’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. On average, sell-side analysts expect that Carbonite Inc will post 1.13 earnings per share for the current year.
A number of equities analysts recently commented on the stock. BidaskClub raised shares of Carbonite from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Zacks Investment Research raised shares of Carbonite from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research note on Monday, September 24th. Stifel Nicolaus began coverage on shares of Carbonite in a research report on Monday, August 20th. They issued a “buy” rating and a $44.00 price objective for the company. Jefferies Financial Group began coverage on shares of Carbonite in a report on Friday, October 12th. They issued a “buy” rating and a $45.00 price target for the company. Finally, MED lowered shares of Carbonite from an “outperform” rating to a “market perform” rating in a report on Friday, November 2nd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Carbonite presently has an average rating of “Buy” and an average price target of $38.58.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Carbonite by 22.9% during the 3rd quarter. BlackRock Inc. now owns 2,237,267 shares of the technology company’s stock worth $79,759,000 after acquiring an additional 417,253 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Carbonite by 30.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,866,217 shares of the technology company’s stock worth $66,531,000 after acquiring an additional 435,554 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Carbonite by 0.3% during the 3rd quarter. Renaissance Technologies LLC now owns 1,680,289 shares of the technology company’s stock worth $59,902,000 after acquiring an additional 5,289 shares in the last quarter. Portolan Capital Management LLC raised its stake in shares of Carbonite by 7.7% during the 2nd quarter. Portolan Capital Management LLC now owns 1,484,309 shares of the technology company’s stock worth $51,802,000 after acquiring an additional 106,638 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Carbonite by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,138,721 shares of the technology company’s stock worth $40,595,000 after acquiring an additional 2,980 shares in the last quarter.
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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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