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.
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.
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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