Carbonite Inc (CARB) Stake Boosted by Nordea Investment Management AB

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Nordea Investment Management AB lifted its stake in Carbonite Inc (NASDAQ:CARB) by 18.0% in the 4th quarter, Holdings Channel reports. The firm owned 141,459 shares of the technology company’s stock after buying an additional 21,562 shares during the quarter. Nordea Investment Management AB’s holdings in Carbonite were worth $3,573,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CARB. Advisors Asset Management Inc. grew its stake in shares of Carbonite by 73.2% in the fourth quarter. Advisors Asset Management Inc. now owns 3,147 shares of the technology company’s stock worth $79,000 after acquiring an additional 1,330 shares during the period. Advisor Group Inc. lifted its position in Carbonite by 21.7% during the fourth quarter. Advisor Group Inc. now owns 3,195 shares of the technology company’s stock valued at $82,000 after purchasing an additional 570 shares during the period. Great West Life Assurance Co. Can lifted its position in Carbonite by 97.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 4,143 shares of the technology company’s stock valued at $101,000 after purchasing an additional 2,043 shares during the period. Legal & General Group Plc boosted its holdings in Carbonite by 13.7% in the fourth quarter. Legal & General Group Plc now owns 5,685 shares of the technology company’s stock worth $144,000 after purchasing an additional 687 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in Carbonite by 13.0% in the fourth quarter. Raymond James & Associates now owns 8,712 shares of the technology company’s stock worth $220,000 after purchasing an additional 1,000 shares during the last quarter.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Carbonite from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, January 9th. Barclays initiated coverage on Carbonite in a report on Thursday, March 28th. They set an “overweight” rating and a $30.00 price target on the stock. BidaskClub downgraded Carbonite from a “buy” rating to a “hold” rating in a research note on Friday. JMP Securities reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Carbonite in a research note on Monday, February 11th. Finally, Lake Street Capital lifted their price objective on Carbonite to $39.00 and gave the company a “buy” rating in a research report on Friday, February 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $36.33.

In related news, CEO Mohamad Ali sold 4,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $24.46, for a total transaction of $97,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Norman Guadagno sold 3,750 shares of the firm’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $28.93, for a total transaction of $108,487.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,880 shares of company stock worth $2,124,401. 9.80% of the stock is owned by insiders.

Shares of Carbonite stock opened at $25.49 on Monday. The stock has a market capitalization of $875.97 million, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.98 and a beta of 0.73. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.46. Carbonite Inc has a 52 week low of $21.83 and a 52 week high of $43.63.

Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, February 7th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.16. The firm had revenue of $77.00 million during the quarter, compared to analysts’ expectations of $79.53 million. Carbonite had a return on equity of 24.20% and a net margin of 2.54%. The firm’s revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share. On average, equities research analysts anticipate that Carbonite Inc will post 1.3 EPS for the current fiscal year.

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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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