White Pine Capital LLC trimmed its position in shares of Carbonite, Inc. (NASDAQ:CARB) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,200 shares of the technology company’s stock after selling 325 shares during the period. White Pine Capital LLC owned about 0.10% of Carbonite worth $571,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its stake in shares of Carbonite by 5.5% during the first quarter. Legal & General Group Plc now owns 5,050 shares of the technology company’s stock worth $101,000 after buying an additional 265 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Carbonite by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 48,953 shares of the technology company’s stock worth $994,000 after buying an additional 581 shares during the period. Alliancebernstein L.P. increased its stake in shares of Carbonite by 4.9% during the first quarter. Alliancebernstein L.P. now owns 12,850 shares of the technology company’s stock worth $261,000 after buying an additional 600 shares during the period. American International Group Inc. increased its stake in shares of Carbonite by 7.1% during the first quarter. American International Group Inc. now owns 10,951 shares of the technology company’s stock worth $222,000 after buying an additional 728 shares during the period. Finally, Capital Fund Management S.A. increased its stake in shares of Carbonite by 3.8% during the second quarter. Capital Fund Management S.A. now owns 37,936 shares of the technology company’s stock worth $827,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 93.65% of the company’s stock.
In other Carbonite news, insider Cassandra Hudson sold 2,018 shares of Carbonite stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $21.27, for a total transaction of $42,922.86. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Anthony Folger sold 12,500 shares of Carbonite stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $21.19, for a total value of $264,875.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,755 shares of company stock worth $638,981 over the last three months. 12.20% of the stock is currently owned by corporate insiders.
A number of research firms recently weighed in on CARB. BidaskClub lowered shares of Carbonite from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. TheStreet upgraded shares of Carbonite from a “d+” rating to a “c+” rating in a research note on Friday, August 4th. B. Riley restated a “buy” rating and set a $26.00 target price on shares of Carbonite in a research note on Monday, August 7th. Finally, Barclays PLC restated an “equal weight” rating and set a $27.00 target price (up from $26.00) on shares of Carbonite in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Carbonite presently has an average rating of “Buy” and a consensus price target of $24.43.
Carbonite, Inc. (NASDAQ CARB) traded down 3.05% during mid-day trading on Friday, hitting $19.05. 159,385 shares of the company were exchanged. The firm has a 50 day moving average price of $20.95 and a 200 day moving average price of $20.64. Carbonite, Inc. has a 12 month low of $13.43 and a 12 month high of $24.60. The stock has a market cap of $529.57 million, a price-to-earnings ratio of 907.14 and a beta of 0.22.
Carbonite (NASDAQ:CARB) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. The firm had revenue of $59 million for the quarter, compared to analyst estimates of $59.97 million. Carbonite had a return on equity of 36.43% and a net margin of 0.29%. Carbonite’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. Analysts anticipate that Carbonite, Inc. will post $0.76 EPS for the current fiscal year.
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Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.
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