Carbonite Inc (CARB) SVP Norman Guadagno Sells 5,013 Shares

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Carbonite Inc (NASDAQ:CARB) SVP Norman Guadagno sold 5,013 shares of Carbonite stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $30.00, for a total value of $150,390.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Norman Guadagno also recently made the following trade(s):

  • On Tuesday, October 30th, Norman Guadagno sold 4,294 shares of Carbonite stock. The stock was sold at an average price of $32.55, for a total value of $139,769.70.
  • On Tuesday, September 4th, Norman Guadagno sold 12,402 shares of Carbonite stock. The stock was sold at an average price of $41.03, for a total value of $508,854.06.

Shares of NASDAQ CARB traded down $0.89 during trading hours on Friday, reaching $29.74. 279,645 shares of the stock traded hands, compared to its average volume of 598,004. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 1.34 and a beta of 0.69. Carbonite Inc has a 52-week low of $20.50 and a 52-week high of $43.63.

Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. The company had revenue of $79.10 million for the quarter, compared to analysts’ expectations of $80.15 million. Carbonite had a return on equity of 29.30% and a net margin of 1.85%. Carbonite’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. As a group, sell-side analysts anticipate that Carbonite Inc will post 1.13 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on CARB shares. BidaskClub raised Carbonite from a “hold” rating to a “buy” rating in a report on Saturday, September 8th. Stifel Nicolaus initiated coverage on Carbonite in a research note on Monday, August 20th. They issued a “buy” rating and a $44.00 target price for the company. Jefferies Financial Group began coverage on Carbonite in a research note on Friday, October 12th. They issued a “buy” rating and a $45.00 target price for the company. TheStreet upgraded Carbonite from a “d+” rating to a “c” rating in a research report on Friday, August 3rd. Finally, Barclays lifted their price target on Carbonite from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 24th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Carbonite currently has an average rating of “Buy” and a consensus price target of $38.58.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Carbonite by 7.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 124,076 shares of the technology company’s stock valued at $4,331,000 after buying an additional 8,705 shares in the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in shares of Carbonite during the 2nd quarter valued at about $6,746,000. Engineers Gate Manager LP purchased a new position in shares of Carbonite during the 2nd quarter valued at about $1,733,000. CIBC Private Wealth Group LLC raised its holdings in shares of Carbonite by 11.9% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 60,420 shares of the technology company’s stock valued at $2,109,000 after buying an additional 6,405 shares in the last quarter. Finally, Summit Creek Advisors LLC raised its holdings in shares of Carbonite by 17.4% during the 3rd quarter. Summit Creek Advisors LLC now owns 540,933 shares of the technology company’s stock valued at $19,284,000 after buying an additional 80,020 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors.

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Carbonite Company Profile

Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

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