King Luther Capital Management Corp Acquires Shares of 19,000 Carbonite, Inc. (CARB)

King Luther Capital Management Corp bought a new position in shares of Carbonite, Inc. (NASDAQ:CARB) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,000 shares of the technology company’s stock, valued at approximately $418,000. King Luther Capital Management Corp owned 0.07% of Carbonite as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CARB. Hood River Capital Management LLC boosted its position in Carbonite by 132.3% during the second quarter. Hood River Capital Management LLC now owns 783,723 shares of the technology company’s stock worth $17,085,000 after purchasing an additional 446,308 shares during the period. Vanguard Group Inc. boosted its position in Carbonite by 41.5% during the first quarter. Vanguard Group Inc. now owns 1,468,756 shares of the technology company’s stock worth $29,816,000 after purchasing an additional 430,556 shares during the period. Elk Creek Partners LLC bought a new position in Carbonite during the third quarter worth about $7,856,000. Dimensional Fund Advisors LP boosted its position in Carbonite by 54.3% during the first quarter. Dimensional Fund Advisors LP now owns 807,557 shares of the technology company’s stock worth $16,393,000 after purchasing an additional 284,133 shares during the period. Finally, AO Asset Management LLC bought a new position in Carbonite during the second quarter worth about $5,720,000. Hedge funds and other institutional investors own 94.61% of the company’s stock.

Carbonite, Inc. (CARB) opened at $23.05 on Friday. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.12 and a quick ratio of 1.12. Carbonite, Inc. has a 1 year low of $15.04 and a 1 year high of $27.00. The company has a market cap of $649.77, a P/E ratio of 96.88, a PEG ratio of 2.36 and a beta of 0.38.

Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Carbonite had a negative net margin of 1.32% and a positive return on equity of 32.85%. The company had revenue of $61.60 million during the quarter, compared to analyst estimates of $61.49 million. During the same period last year, the business earned $0.14 earnings per share. Carbonite’s revenue was up 18.7% compared to the same quarter last year. analysts predict that Carbonite, Inc. will post 0.39 EPS for the current fiscal year.

In other news, CFO Anthony Folger sold 7,992 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $23.45, for a total value of $187,412.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul S. Mellinger sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $22.10, for a total transaction of $165,750.00. The disclosure for this sale can be found here. Insiders sold 36,928 shares of company stock valued at $818,387 over the last 90 days. 12.20% of the stock is owned by company insiders.

A number of equities analysts have weighed in on CARB shares. BidaskClub lowered shares of Carbonite from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Rosenblatt Securities started coverage on shares of Carbonite in a research report on Monday, September 18th. They set a “buy” rating and a $28.00 target price for the company. Oppenheimer reiterated a “buy” rating and set a $30.00 target price on shares of Carbonite in a research report on Thursday, September 21st. Finally, JMP Securities started coverage on shares of Carbonite in a research report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $27.71.

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Carbonite Profile

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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Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

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