Unterberg Capital LLC grew its stake in Carbonite, Inc. (NASDAQ:CARB) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 185,000 shares of the technology company’s stock after acquiring an additional 5,000 shares during the quarter. Carbonite accounts for 5.0% of Unterberg Capital LLC’s portfolio, making the stock its 7th biggest holding. Unterberg Capital LLC owned about 0.66% of Carbonite worth $4,070,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Elk Creek Partners LLC purchased a new position in shares of Carbonite in the third quarter worth $7,856,000. Dimensional Fund Advisors LP raised its stake in shares of Carbonite by 4.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,103,160 shares of the technology company’s stock worth $24,270,000 after purchasing an additional 46,260 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Carbonite by 24.4% in the third quarter. Brown Advisory Inc. now owns 15,614 shares of the technology company’s stock worth $344,000 after purchasing an additional 3,065 shares during the last quarter. Cadence Capital Management LLC raised its stake in shares of Carbonite by 5.1% in the third quarter. Cadence Capital Management LLC now owns 73,109 shares of the technology company’s stock worth $1,608,000 after purchasing an additional 3,553 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Carbonite in the third quarter worth $5,676,000. 94.61% of the stock is currently owned by institutional investors and hedge funds.
CARB has been the subject of a number of research reports. B. Riley reiterated a “buy” rating and set a $26.00 price objective on shares of Carbonite in a research report on Monday, August 7th. Rosenblatt Securities initiated coverage on Carbonite in a research report on Monday, September 18th. They set a “buy” rating and a $28.00 price objective for the company. BidaskClub cut Carbonite from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. JMP Securities initiated coverage on Carbonite in a research report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, Oppenheimer reiterated a “buy” rating and set a $30.00 price objective on shares of Carbonite in a research report on Thursday, September 21st. One 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 has an average rating of “Buy” and a consensus target price of $27.71.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $61.60 million during the quarter, compared to analysts’ expectations of $61.49 million. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 earnings per share. sell-side analysts expect that Carbonite, Inc. will post 0.39 EPS for the current year.
In other news, General Counsel Danielle Sheer sold 4,807 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $22.31, for a total value of $107,244.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anthony Folger sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $20.59, for a total value of $154,425.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,936 shares of company stock valued at $630,975. Company insiders own 12.20% of the company’s stock.
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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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