A number of other large investors also recently modified their holdings of the company. Smith Asset Management Group LP acquired a new position in Carbonite during the first quarter valued at $3,822,000. Benjamin F. Edwards & Company Inc. acquired a new position in Carbonite during the first quarter valued at $261,000. Capital Fund Management S.A. acquired a new position in Carbonite during the first quarter valued at $742,000. Falcon Point Capital LLC acquired a new position in Carbonite during the first quarter valued at $1,205,000. Finally, American Century Companies Inc. increased its position in Carbonite by 58.2% in the first quarter. American Century Companies Inc. now owns 326,513 shares of the technology company’s stock valued at $6,628,000 after buying an additional 120,168 shares during the last quarter. Institutional investors own 95.09% of the company’s stock.
Swiss National Bank continued to hold its stake in shares of Carbonite, Inc. (NASDAQ:CARB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,100 shares of the technology company’s stock at the end of the first quarter. Swiss National Bank owned about 0.11% of Carbonite worth $631,000 at the end of the most recent reporting period.
Carbonite, Inc. (NASDAQ:CARB) traded down 1.50% during trading on Wednesday, reaching $23.00. 431,790 shares of the company traded hands. The company has a market capitalization of $632.32 million, a P/E ratio of 76.41 and a beta of 0.13. Carbonite, Inc. has a 52 week low of $12.56 and a 52 week high of $24.60. The firm has a 50-day moving average price of $22.63 and a 200-day moving average price of $20.34.
Carbonite (NASDAQ:CARB) last released its quarterly earnings results on Thursday, May 4th. The technology company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. The firm had revenue of $57.10 million during the quarter, compared to analysts’ expectations of $55.49 million. Carbonite had a return on equity of 200.32% and a net margin of 3.79%. Carbonite’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. Analysts forecast that Carbonite, Inc. will post $0.77 earnings per share for the current fiscal year.
Several research firms have weighed in on CARB. B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Carbonite in a research report on Wednesday. Barclays PLC began coverage on shares of Carbonite in a research report on Monday, June 26th. They set an “equal weight” rating and a $26.00 price objective on the stock. Finally, BidaskClub downgraded shares of Carbonite from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $24.29.
In other Carbonite news, CFO Anthony Folger sold 6,540 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $22.34, for a total value of $146,103.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul S. Mellinger sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $21.04, for a total value of $157,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,714 shares of company stock valued at $1,368,677. 12.20% of the stock is owned by company insiders.
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.