Nordea Investment Management AB boosted its stake in Carbonite, Inc. (NASDAQ:CARB) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,321 shares of the technology company’s stock after acquiring an additional 14,656 shares during the period. Nordea Investment Management AB owned 0.39% of Carbonite worth $2,405,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in CARB. Legal & General Group Plc boosted its holdings in shares of Carbonite by 5.5% during the 1st 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 in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Carbonite by 17.2% during the 2nd quarter. Quantbot Technologies LP now owns 5,449 shares of the technology company’s stock worth $118,000 after buying an additional 800 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Carbonite during the 2nd quarter worth approximately $231,000. Voya Investment Management LLC bought a new position in shares of Carbonite during the 2nd quarter worth approximately $236,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Carbonite during the 2nd quarter worth approximately $251,000. Institutional investors and hedge funds own 94.61% of the company’s stock.
In other news, SVP Paul S. Mellinger sold 7,500 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $22.10, for a total transaction of $165,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony Folger sold 6,008 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $22.31, for a total value of $134,038.48. The disclosure for this sale can be found here. Insiders sold a total of 28,936 shares of company stock valued at $630,975 over the last three months. 12.20% of the stock is currently owned by insiders.
A number of equities analysts have issued reports on CARB shares. B. Riley restated a “buy” rating and set a $26.00 price target on shares of Carbonite in a report on Monday, August 7th. BidaskClub lowered Carbonite from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Rosenblatt Securities began coverage on Carbonite in a research report on Monday, September 18th. They set a “buy” rating and a $28.00 target price on the stock. Oppenheimer reaffirmed a “buy” rating and set a $30.00 target price on shares of Carbonite in a research report on Thursday, September 21st. Finally, JMP Securities began coverage on Carbonite in a research report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $27.71.
Carbonite, Inc. (NASDAQ:CARB) opened at $22.90 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 3.12. Carbonite, Inc. has a 12-month low of $15.04 and a 12-month high of $27.00. The firm has a market capitalization of $660.95, a P/E ratio of 98.54, a PEG ratio of 2.40 and a beta of 0.38.
Carbonite (NASDAQ:CARB) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $61.60 million for the quarter, compared to analyst estimates of $61.49 million. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. Carbonite’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 earnings per share. research analysts predict that Carbonite, Inc. will post 0.39 EPS for the current fiscal year.
Carbonite Company Profile
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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