Allianz Asset Management GmbH raised its position in shares of Carbonite, Inc. (NASDAQ:CARB) by 62.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 271,349 shares of the technology company’s stock after purchasing an additional 104,761 shares during the quarter. Allianz Asset Management GmbH owned 0.97% of Carbonite worth $5,970,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of CARB. Hood River Capital Management LLC boosted its stake in shares of Carbonite by 132.3% in the second quarter. Hood River Capital Management LLC now owns 783,723 shares of the technology company’s stock worth $17,085,000 after buying an additional 446,308 shares during the last quarter. Elk Creek Partners LLC purchased a new stake in shares of Carbonite in the third quarter worth about $7,856,000. AO Asset Management LLC purchased a new stake in shares of Carbonite in the second quarter worth about $5,720,000. Schroder Investment Management Group purchased a new stake in shares of Carbonite in the third quarter worth about $5,676,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Carbonite by 30.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,056,900 shares of the technology company’s stock worth $23,041,000 after buying an additional 249,343 shares during the last quarter. Institutional investors and hedge funds own 94.21% of the company’s stock.
A number of analysts have recently commented on CARB shares. BidaskClub downgraded Carbonite from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Rosenblatt Securities started coverage on Carbonite in a research note on Monday, September 18th. They issued a “buy” rating and a $28.00 target price on the stock. Oppenheimer restated a “buy” rating and issued a $30.00 target price on shares of Carbonite in a research note on Thursday, September 21st. Finally, JMP Securities started coverage on Carbonite in a research note on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $27.71.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $61.60 million for the quarter, compared to the consensus estimate of $61.49 million. Carbonite had a negative return on equity of 40.48% and a negative net margin of 5.85%. Carbonite’s revenue for the quarter 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. equities analysts forecast that Carbonite, Inc. will post 0.39 EPS for the current fiscal year.
In other Carbonite news, CFO Anthony Folger sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $20.59, for a total transaction of $154,425.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Todd Krasnow sold 10,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $23.16, for a total value of $231,600.00. Following the transaction, the director now owns 227,230 shares in the company, valued at approximately $5,262,646.80. The disclosure for this sale can be found here. Insiders have sold 46,927 shares of company stock worth $1,051,368 in the last quarter. 12.20% of the stock is currently owned by company 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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