Metropolitan Life Insurance Co. NY trimmed its position in Carbonite (NASDAQ:CARB) by 52.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,016 shares of the technology company’s stock after selling 8,806 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Carbonite were worth $201,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Pembroke Management LTD lifted its holdings in Carbonite by 0.4% in the 4th quarter. Pembroke Management LTD now owns 1,250,153 shares of the technology company’s stock valued at $31,378,000 after purchasing an additional 4,400 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Carbonite by 24.7% in the 4th quarter. Alliancebernstein L.P. now owns 23,750 shares of the technology company’s stock valued at $596,000 after purchasing an additional 4,700 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Carbonite by 18.7% in the 4th quarter. Wells Fargo & Company MN now owns 37,935 shares of the technology company’s stock valued at $952,000 after purchasing an additional 5,968 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new position in Carbonite in the 4th quarter valued at about $167,000. Finally, Moors & Cabot Inc. purchased a new position in Carbonite in the 4th quarter valued at about $220,000. Institutional investors own 92.79% of the company’s stock.
A number of research analysts have issued reports on CARB shares. Zacks Investment Research lowered shares of Carbonite from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. B. Riley upped their target price on shares of Carbonite from $30.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. BidaskClub lowered shares of Carbonite from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. TheStreet lowered shares of Carbonite from a “c+” rating to a “d” rating in a report on Tuesday, February 13th. Finally, Lake Street Capital restated a “buy” rating and issued a $27.00 target price (up from $25.00) on shares of Carbonite in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $30.14.
Shares of CARB stock opened at $30.85 on Friday. The stock has a market cap of $860.73, a PE ratio of 61.70, a P/E/G ratio of 0.76 and a beta of 0.17. Carbonite has a 1-year low of $18.30 and a 1-year high of $33.55. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.18 and a current ratio of 1.18.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The business had revenue of $61.69 million for the quarter, compared to analyst estimates of $63.72 million. Carbonite had a negative net margin of 1.67% and a positive return on equity of 38.08%. analysts forecast that Carbonite will post 1 earnings per share for the current fiscal year.
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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