Crosslink Capital Inc. lifted its stake in Carbonite, Inc. (NASDAQ:CARB) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,312,983 shares of the technology company’s stock after buying an additional 87,900 shares during the period. Carbonite makes up 4.5% of Crosslink Capital Inc.’s investment portfolio, making the stock its 3rd largest holding. Crosslink Capital Inc. owned about 4.72% of Carbonite worth $28,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aperio Group LLC grew its position in shares of Carbonite by 29.5% in the 2nd quarter. Aperio Group LLC now owns 19,423 shares of the technology company’s stock valued at $423,000 after buying an additional 4,421 shares during the last quarter. Redwood Investments LLC purchased a new position in shares of Carbonite in the 2nd quarter valued at $4,391,000. Highbridge Capital Management LLC purchased a new position in shares of Carbonite in the 1st quarter valued at $436,000. Old Mutual Global Investors UK Ltd. grew its position in shares of Carbonite by 29.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 37,078 shares of the technology company’s stock valued at $808,000 after buying an additional 8,445 shares during the last quarter. Finally, Summit Global Investments purchased a new position in shares of Carbonite in the 2nd quarter valued at $578,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.
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A number of research firms recently commented on CARB. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $30.00 target price on shares of Carbonite in a research report on Thursday, September 21st. Rosenblatt Securities began coverage on shares of Carbonite in a research report on Monday, September 18th. They issued a “buy” rating and a $28.00 target price on the stock. BidaskClub downgraded shares of Carbonite from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. TheStreet raised shares of Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. Finally, B. Riley reaffirmed a “buy” rating and issued a $26.00 target price on shares of Carbonite in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Carbonite has an average rating of “Buy” and a consensus price target of $27.33.
Shares of Carbonite, Inc. (NASDAQ:CARB) traded up 1.79% on Thursday, reaching $22.70. 80,154 shares of the company’s stock traded hands. Carbonite, Inc. has a 52 week low of $14.10 and a 52 week high of $24.60. The company has a 50 day moving average of $20.66 and a 200-day moving average of $20.89. The stock has a market capitalization of $631.04 million, a PE ratio of 1080.95 and a beta of 0.27.
Carbonite (NASDAQ:CARB) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The company had revenue of $59.00 million for the quarter, compared to analysts’ expectations of $59.97 million. Carbonite had a net margin of 0.29% and a return on equity of 36.43%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share. Equities research analysts forecast that Carbonite, Inc. will post $0.76 earnings per share for the current year.
In other Carbonite news, CFO Anthony Folger sold 12,500 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $21.19, for a total transaction of $264,875.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Danielle Sheer sold 4,810 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $21.65, for a total transaction of $104,136.50. The disclosure for this sale can be found here. Insiders have sold 30,421 shares of company stock worth $641,877 over the last three months. 12.20% of the stock is owned by corporate 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.
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