Advisor Group Inc. increased its holdings in Carbonite Inc (NASDAQ:CARB) by 21.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,195 shares of the technology company’s stock after purchasing an additional 570 shares during the period. Advisor Group Inc.’s holdings in Carbonite were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CARB. Bank of New York Mellon Corp boosted its position in Carbonite by 64.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 554,689 shares of the technology company’s stock worth $19,775,000 after acquiring an additional 216,622 shares during the period. BlackRock Inc. boosted its position in 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 during the period. American International Group Inc. boosted its position in Carbonite by 19.8% during the 3rd quarter. American International Group Inc. now owns 20,820 shares of the technology company’s stock worth $742,000 after acquiring an additional 3,436 shares during the period. Virtu Financial LLC acquired a new position in Carbonite during the 3rd quarter worth $325,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Carbonite by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,138,721 shares of the technology company’s stock valued at $40,595,000 after buying an additional 2,980 shares during the period.
CARB has been the subject of several research analyst reports. Zacks Investment Research upgraded Carbonite from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Wednesday, January 16th. BidaskClub lowered Carbonite from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Jefferies Financial Group cut their price objective on Carbonite from $41.00 to $37.00 and set a “buy” rating for the company in a report on Friday, February 8th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $33.00 price objective (down previously from $45.00) on shares of Carbonite in a report on Friday, February 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Carbonite currently has an average rating of “Hold” and a consensus target price of $36.33.
Shares of Carbonite stock opened at $25.36 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $865.16 million, a PE ratio of 20.29, a PEG ratio of 0.98 and a beta of 0.73. Carbonite Inc has a fifty-two week low of $21.83 and a fifty-two week high of $43.63.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Thursday, February 7th. The technology company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.16. The business had revenue of $77.00 million during the quarter, compared to analyst estimates of $79.53 million. Carbonite had a return on equity of 24.20% and a net margin of 2.54%. The company’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Equities analysts anticipate that Carbonite Inc will post 1.3 earnings per share for the current fiscal year.
In other news, CEO Mohamad Ali sold 10,353 shares of the business’s stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $27.56, for a total transaction of $285,328.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Norman Guadagno sold 5,128 shares of the business’s stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $27.76, for a total value of $142,353.28. The disclosure for this sale can be found here. Insiders have sold 81,880 shares of company stock worth $2,124,401 over the last ninety days. 9.80% of the stock is owned by insiders.
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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