Lisanti Capital Growth LLC lifted its position in shares of Carbonite, Inc. (NASDAQ:CARB) by 94.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 47,060 shares of the technology company’s stock after buying an additional 22,915 shares during the period. Lisanti Capital Growth LLC’s holdings in Carbonite were worth $1,181,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Cadence Capital Management LLC lifted its holdings in shares of Carbonite by 28.8% during the 4th quarter. Cadence Capital Management LLC now owns 94,191 shares of the technology company’s stock worth $2,364,000 after acquiring an additional 21,082 shares during the period. Fortaleza Asset Management Inc. bought a new stake in shares of Carbonite during the 4th quarter worth approximately $167,000. Pembroke Management LTD lifted its holdings in shares of Carbonite by 0.4% during the 4th quarter. Pembroke Management LTD now owns 1,250,153 shares of the technology company’s stock worth $31,378,000 after acquiring an additional 4,400 shares during the period. Boston Advisors LLC bought a new stake in shares of Carbonite during the 4th quarter worth approximately $1,054,000. Finally, Rice Hall James & Associates LLC lifted its holdings in shares of Carbonite by 100.4% during the 4th quarter. Rice Hall James & Associates LLC now owns 95,955 shares of the technology company’s stock worth $2,408,000 after acquiring an additional 48,072 shares during the period. 93.89% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on CARB. BidaskClub downgraded shares of Carbonite from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. JMP Securities began coverage on shares of Carbonite in a report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Carbonite presently has an average rating of “Buy” and an average target price of $27.71.
In related news, CFO Anthony Folger sold 7,992 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd Krasnow sold 10,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $23.16, for a total transaction of $231,600.00. Following the completion of the transaction, the director now directly owns 227,230 shares of the company’s stock, valued at approximately $5,262,646.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,137 shares of company stock valued at $1,049,573. 12.20% of the stock is currently owned by insiders.
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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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