Century Capital Management LLC Invests $823,000 in Carbonite, Inc. (CARB)

Century Capital Management LLC purchased a new position in Carbonite, Inc. (NASDAQ:CARB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 37,735 shares of the technology company’s stock, valued at approximately $823,000. Century Capital Management LLC owned about 0.14% of Carbonite as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARB. Legal & General Group Plc raised its holdings in shares of Carbonite by 5.5% in the first quarter. Legal & General Group Plc now owns 5,050 shares of the technology company’s stock worth $101,000 after acquiring an additional 265 shares during the last quarter. American International Group Inc. raised its holdings in shares of Carbonite by 7.1% in the first quarter. American International Group Inc. now owns 10,951 shares of the technology company’s stock worth $222,000 after acquiring an additional 728 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Carbonite in the first quarter worth $251,000. Alliancebernstein L.P. raised its holdings in shares of Carbonite by 4.9% in the first quarter. Alliancebernstein L.P. now owns 12,850 shares of the technology company’s stock worth $261,000 after acquiring an additional 600 shares during the last quarter. Finally, Airain ltd acquired a new position in shares of Carbonite in the first quarter worth $264,000. 93.65% of the stock is owned by institutional investors.

A number of research firms have recently weighed in on CARB. BidaskClub cut Carbonite from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. TheStreet raised Carbonite from a “d+” rating to a “c+” rating in a report on Friday, August 4th. B. Riley reissued a “buy” rating and issued a $26.00 price target on shares of Carbonite in a report on Monday, August 7th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $27.00 price target (up from $26.00) on shares of Carbonite in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.43.

Shares of Carbonite, Inc. (NASDAQ CARB) opened at 20.40 on Tuesday. Carbonite, Inc. has a 52 week low of $13.43 and a 52 week high of $24.60. The firm has a market capitalization of $567.10 million, a price-to-earnings ratio of 971.43 and a beta of 0.22. The firm’s 50-day moving average price is $20.89 and its 200 day moving average price is $20.67.

Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Carbonite had a return on equity of 36.43% and a net margin of 0.29%. The business had revenue of $59 million during the quarter, compared to analyst estimates of $59.97 million. During the same period last year, the company earned $0.19 earnings per share. Carbonite’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, analysts anticipate that Carbonite, Inc. will post $0.76 EPS for the current year.

In related news, CFO Anthony Folger sold 12,500 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $21.19, for a total transaction of $264,875.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Norman Guadagno sold 2,489 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $21.65, for a total value of $53,886.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,378 shares of company stock valued at $588,483. 12.20% of the stock is owned by corporate insiders.

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About Carbonite

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.

Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

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