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.
COPYRIGHT VIOLATION NOTICE: This report was published by Markets Daily and is the sole property of of Markets Daily. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.themarketsdaily.com/2017/09/12/century-capital-management-llc-invests-823000-in-carbonite-inc-carb.html.
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.
Receive News & Ratings for Carbonite Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite Inc. and related companies with MarketBeat.com's FREE daily email newsletter.