Raymond James & Associates boosted its position in shares of Carbonite Inc (NASDAQ:CARB) by 13.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,712 shares of the technology company’s stock after buying an additional 1,000 shares during the quarter. Raymond James & Associates’ holdings in Carbonite were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of CARB. Advisors Asset Management Inc. raised its holdings in Carbonite by 73.2% during the 4th quarter. Advisors Asset Management Inc. now owns 3,147 shares of the technology company’s stock valued at $79,000 after buying an additional 1,330 shares during the last quarter. Legal & General Group Plc raised its holdings in Carbonite by 17.8% during the 3rd quarter. Legal & General Group Plc now owns 4,998 shares of the technology company’s stock valued at $178,000 after buying an additional 756 shares during the last quarter. Jane Street Group LLC raised its holdings in Carbonite by 222.3% during the 3rd quarter. Jane Street Group LLC now owns 6,665 shares of the technology company’s stock valued at $238,000 after buying an additional 12,116 shares during the last quarter. NJ State Employees Deferred Compensation Plan raised its holdings in Carbonite by 50.0% during the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 12,000 shares of the technology company’s stock valued at $303,000 after buying an additional 4,000 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in Carbonite during the 4th quarter valued at $337,000.
A number of equities research analysts recently commented on CARB shares. Zacks Investment Research upgraded shares of Carbonite from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Wednesday, January 9th. BidaskClub upgraded shares of Carbonite from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Jefferies Financial Group reduced their price objective on shares of Carbonite from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, February 8th. Lake Street Capital boosted their price objective on shares of Carbonite to $39.00 and gave the company a “buy” rating in a research report on Friday, February 8th. Finally, JMP Securities reissued a “buy” rating and set a $44.00 price objective on shares of Carbonite in a research report on Monday, February 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $36.33.
Shares of Carbonite stock opened at $25.09 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.46. The firm has a market cap of $873.55 million, a price-to-earnings ratio of 21.16, a P/E/G ratio of 0.98 and a beta of 0.73. Carbonite Inc has a 12-month low of $21.83 and a 12-month high of $43.63.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings data on Thursday, February 7th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.16. The business had revenue of $77.00 million for the quarter, compared to the consensus estimate of $79.53 million. Carbonite had a net margin of 2.54% and a return on equity of 24.20%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. On average, analysts forecast that Carbonite Inc will post 1.3 earnings per share for the current year.
In other news, CFO Anthony Folger sold 1,611 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $24.58, for a total value of $39,598.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mohamad Ali sold 10,353 shares of the company’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $27.56, for a total transaction of $285,328.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,752 shares of company stock worth $1,982,048. Insiders own 9.80% of the company’s stock.
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, a cloud backup solution for individuals and businesses that protects customer data from accidental deletions, crashes, ransomware, viruses, and other common threats; and Carbonite Endpoint that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.
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