Carbonite Inc (CARB) Position Raised by Raymond James & Associates

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.

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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, 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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Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

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