Swiss National Bank increased its holdings in shares of Carbonite Inc (NASDAQ:CARB) by 23.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,200 shares of the technology company’s stock after purchasing an additional 10,400 shares during the quarter. Swiss National Bank owned 0.16% of Carbonite worth $1,968,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Aperio Group LLC increased its stake in shares of Carbonite by 10.3% during the second quarter. Aperio Group LLC now owns 20,941 shares of the technology company’s stock valued at $731,000 after purchasing an additional 1,955 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Carbonite by 11.9% during the second quarter. CIBC Private Wealth Group LLC now owns 60,420 shares of the technology company’s stock valued at $2,109,000 after purchasing an additional 6,405 shares in the last quarter. Sei Investments Co. increased its stake in shares of Carbonite by 844.8% during the second quarter. Sei Investments Co. now owns 33,748 shares of the technology company’s stock valued at $1,178,000 after purchasing an additional 30,176 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Carbonite during the second quarter valued at approximately $1,733,000. Finally, Rhumbline Advisers increased its stake in shares of Carbonite by 14.7% during the second quarter. Rhumbline Advisers now owns 26,446 shares of the technology company’s stock valued at $923,000 after purchasing an additional 3,383 shares in the last quarter.
In related news, Director Todd Krasnow sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $29.39, for a total value of $191,035.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anthony Folger sold 1,611 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $27.95, for a total transaction of $45,027.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,531 shares of company stock worth $2,802,893. Corporate insiders own 9.80% of the company’s stock.
NASDAQ:CARB opened at $27.61 on Wednesday. Carbonite Inc has a 52 week low of $20.50 and a 52 week high of $43.63. The company has a market cap of $979.03 million, a PE ratio of 55.22, a PEG ratio of 1.26 and a beta of 0.69.
Carbonite (NASDAQ:CARB) last posted its quarterly earnings results on Thursday, November 1st. The technology company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. Carbonite had a net margin of 1.85% and a return on equity of 29.30%. The firm had revenue of $79.10 million for the quarter, compared to analysts’ expectations of $80.15 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, sell-side analysts forecast that Carbonite Inc will post 1.13 EPS for the current year.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Carbonite from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a research note on Tuesday, November 6th. BidaskClub raised shares of Carbonite from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Stifel Nicolaus assumed coverage on shares of Carbonite in a research note on Monday, August 20th. They set a “buy” rating and a $44.00 target price for the company. ValuEngine downgraded shares of Carbonite from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Carbonite in a report on Friday, November 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Carbonite currently has an average rating of “Buy” and an average target price of $38.58.
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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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