Ardsley Advisory Partners Takes $3.27 Million Position in Carbonite, Inc. (CARB)

Ardsley Advisory Partners bought a new stake in shares of Carbonite, Inc. (NASDAQ:CARB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 150,000 shares of the technology company’s stock, valued at approximately $3,266,000. Ardsley Advisory Partners owned 0.54% of Carbonite as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. J.P. Marvel Investment Advisors LLC grew its position in shares of Carbonite by 30.1% during the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 199,350 shares of the technology company’s stock valued at $4,346,000 after acquiring an additional 46,090 shares during the period. Crosslink Capital Inc. grew its position in shares of Carbonite by 7.2% during the 2nd quarter. Crosslink Capital Inc. now owns 1,312,983 shares of the technology company’s stock valued at $28,623,000 after acquiring an additional 87,900 shares during the period. California State Teachers Retirement System grew its position in shares of Carbonite by 24.8% during the 2nd quarter. California State Teachers Retirement System now owns 43,755 shares of the technology company’s stock valued at $954,000 after acquiring an additional 8,700 shares during the period. Bank of Nova Scotia acquired a new stake in shares of Carbonite during the 2nd quarter valued at about $362,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Carbonite by 867.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 173,836 shares of the technology company’s stock valued at $3,790,000 after acquiring an additional 155,863 shares during the period. Hedge funds and other institutional investors own 96.08% of the company’s stock.

In other Carbonite news, CFO Anthony Folger sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $20.59, for a total transaction of $154,425.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cassandra Hudson sold 1,563 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $22.05, for a total transaction of $34,464.15. The disclosure for this sale can be found here. Insiders have sold 30,421 shares of company stock worth $641,877 over the last 90 days. 12.20% of the stock is currently owned by company insiders.

Shares of Carbonite, Inc. (CARB) traded up 1.457% on Tuesday, reaching $22.625. 138,874 shares of the company were exchanged. The company has a market capitalization of $628.95 million, a P/E ratio of 1077.381 and a beta of 0.27. Carbonite, Inc. has a 52-week low of $14.10 and a 52-week high of $24.60. The stock has a 50 day moving average of $20.94 and a 200-day moving average of $20.94.

Carbonite (NASDAQ:CARB) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Carbonite had a net margin of 0.29% and a return on equity of 36.43%. The company had revenue of $59.00 million for the quarter, compared to analyst estimates of $59.97 million. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts predict that Carbonite, Inc. will post $0.76 EPS for the current fiscal year.

A number of equities research analysts have recently commented on CARB shares. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $30.00 target price on shares of Carbonite in a research report on Thursday, September 21st. B. Riley restated a “buy” rating and set a $26.00 target price on shares of Carbonite in a research report on Wednesday, August 2nd. BidaskClub cut Carbonite from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. JMP Securities started coverage on Carbonite in a research report on Tuesday. They set an “outperform” rating and a $30.00 target price on the stock. Finally, TheStreet upgraded Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Carbonite presently has a consensus rating of “Buy” and an average price target of $27.71.

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Several other large investors have also bought and sold shares of the company. J.P. Marvel Investment Advisors LLC grew its position in shares of Carbonite by 30.1% during the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 199,350 shares of the technology company’s stock valued at $4,346,000 after acquiring an additional 46,090 shares during the period. Crosslink Capital Inc. grew its position in shares of Carbonite by 7.2% during the 2nd quarter. Crosslink Capital Inc. now owns 1,312,983 shares of the technology company’s stock valued at $28,623,000 after acquiring an additional 87,900 shares during the period. California State Teachers Retirement System grew its position in shares of Carbonite by 24.8% during the 2nd quarter. California State Teachers Retirement System now owns 43,755 shares of the technology company’s stock valued at $954,000 after acquiring an additional 8,700 shares during the period. Bank of Nova Scotia acquired a new stake in shares of Carbonite during the 2nd quarter valued at about $362,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Carbonite by 867.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 173,836 shares of the technology company’s stock valued at $3,790,000 after acquiring an additional 155,863 shares during the period. Hedge funds and other institutional investors own 96.08% of the company’s stock.

In other Carbonite news, CFO Anthony Folger sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $20.59, for a total transaction of $154,425.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cassandra Hudson sold 1,563 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $22.05, for a total transaction of $34,464.15. The disclosure for this sale can be found here. Insiders have sold 30,421 shares of company stock worth $641,877 over the last 90 days. 12.20% of the stock is currently owned by company insiders.

Shares of Carbonite, Inc. (CARB) traded up 1.457% on Tuesday, reaching $22.625. 138,874 shares of the company were exchanged. The company has a market capitalization of $628.95 million, a P/E ratio of 1077.381 and a beta of 0.27. Carbonite, Inc. has a 52-week low of $14.10 and a 52-week high of $24.60. The stock has a 50 day moving average of $20.94 and a 200-day moving average of $20.94.

Carbonite (NASDAQ:CARB) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Carbonite had a net margin of 0.29% and a return on equity of 36.43%. The company had revenue of $59.00 million for the quarter, compared to analyst estimates of $59.97 million. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts predict that Carbonite, Inc. will post $0.76 EPS for the current fiscal year.

A number of equities research analysts have recently commented on CARB shares. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $30.00 target price on shares of Carbonite in a research report on Thursday, September 21st. B. Riley restated a “buy” rating and set a $26.00 target price on shares of Carbonite in a research report on Wednesday, August 2nd. BidaskClub cut Carbonite from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. JMP Securities started coverage on Carbonite in a research report on Tuesday. They set an “outperform” rating and a $30.00 target price on the stock. Finally, TheStreet upgraded Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Carbonite presently has a consensus rating of “Buy” and an average price target of $27.71.

COPYRIGHT VIOLATION NOTICE: This report was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/17/ardsley-advisory-partners-takes-3-27-million-position-in-carbonite-inc-carb.html.

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.

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Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

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