Scout Investments Inc. Lowers Stake in Carbonite Inc (NASDAQ:CARB)

Scout Investments Inc. lessened its holdings in Carbonite Inc (NASDAQ:CARB) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 336,522 shares of the technology company’s stock after selling 27,346 shares during the quarter. Scout Investments Inc. owned 0.97% of Carbonite worth $5,213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Campbell & CO Investment Adviser LLC increased its position in shares of Carbonite by 5.8% in the second quarter. Campbell & CO Investment Adviser LLC now owns 20,825 shares of the technology company’s stock valued at $542,000 after acquiring an additional 1,136 shares during the period. Bernzott Capital Advisors purchased a new position in shares of Carbonite in the second quarter valued at about $14,798,000. Carillon Tower Advisers Inc. increased its position in shares of Carbonite by 21.2% in the second quarter. Carillon Tower Advisers Inc. now owns 218,565 shares of the technology company’s stock valued at $5,691,000 after acquiring an additional 38,175 shares during the period. Atria Investments LLC purchased a new position in shares of Carbonite in the second quarter valued at about $78,000. Finally, Dudley & Shanley Inc. purchased a new position in shares of Carbonite in the second quarter valued at about $13,777,000.

Shares of NASDAQ CARB opened at $14.10 on Thursday. The firm’s 50 day moving average price is $14.28 and its 200-day moving average price is $20.98. The company has a market cap of $528.67 million, a PE ratio of 11.28, a P/E/G ratio of 0.52 and a beta of 0.74. Carbonite Inc has a 52-week low of $11.86 and a 52-week high of $36.40. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.64 and a current ratio of 0.64.

Carbonite (NASDAQ:CARB) last issued its earnings results on Thursday, July 25th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. The firm had revenue of $121.51 million for the quarter, compared to the consensus estimate of $129.68 million. Carbonite had a negative net margin of 2.22% and a positive return on equity of 20.11%. The business’s revenue was up 56.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. On average, analysts forecast that Carbonite Inc will post 1.52 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on the stock. Stifel Nicolaus set a $18.00 price objective on shares of Carbonite and gave the company a “hold” rating in a research report on Friday, July 26th. Northland Securities reaffirmed a “buy” rating and set a $30.00 target price on shares of Carbonite in a research note on Thursday, September 5th. TheStreet lowered shares of Carbonite from a “c-” rating to a “d+” rating in a research note on Thursday, August 29th. ValuEngine raised shares of Carbonite from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, JMP Securities cut their target price on shares of Carbonite to $28.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $25.80.

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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