Carbonite (CARB) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN increased its stake in shares of Carbonite (NASDAQ:CARB) by 18.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 37,935 shares of the technology company’s stock after purchasing an additional 5,968 shares during the period. Wells Fargo & Company MN’s holdings in Carbonite were worth $952,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fortaleza Asset Management Inc. purchased a new position in shares of Carbonite during the 4th quarter worth approximately $167,000. Boston Advisors LLC purchased a new position in shares of Carbonite during the 4th quarter worth approximately $1,054,000. Lisanti Capital Growth LLC boosted its position in shares of Carbonite by 94.9% during the 4th quarter. Lisanti Capital Growth LLC now owns 47,060 shares of the technology company’s stock worth $1,181,000 after purchasing an additional 22,915 shares during the period. Cadence Capital Management LLC boosted its position 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 purchasing an additional 21,082 shares during the period. Finally, Rice Hall James & Associates LLC boosted its position 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 purchasing an additional 48,072 shares during the period. 92.79% of the stock is owned by hedge funds and other institutional investors.

CARB has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Carbonite from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Monday, April 2nd. BidaskClub raised shares of Carbonite from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Lake Street Capital reissued a “buy” rating and issued a $27.00 price target (up previously from $25.00) on shares of Carbonite in a research report on Wednesday, February 14th. B. Riley raised their price target on shares of Carbonite from $30.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, TheStreet cut shares of Carbonite from a “c+” rating to a “d” rating in a research report on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.14.

In other news, General Counsel Danielle Sheer sold 2,321 shares of Carbonite stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $20.89, for a total transaction of $48,485.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony Folger sold 2,458 shares of Carbonite stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $23.70, for a total transaction of $58,254.60. The disclosure for this sale can be found here. Insiders sold a total of 70,623 shares of company stock valued at $1,809,948 in the last three months. 9.80% of the stock is currently owned by corporate insiders.

Shares of CARB stock opened at $30.10 on Thursday. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.18 and a quick ratio of 1.18. Carbonite has a 52 week low of $18.30 and a 52 week high of $33.55. The company has a market capitalization of $847.89, a price-to-earnings ratio of 60.20, a price-to-earnings-growth ratio of 0.75 and a beta of 0.17.

Carbonite (NASDAQ:CARB) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Carbonite had a negative net margin of 1.67% and a positive return on equity of 38.08%. The company had revenue of $61.69 million during the quarter, compared to analysts’ expectations of $63.72 million. equities analysts forecast that Carbonite will post 1 EPS for the current fiscal year.

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About Carbonite

Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

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Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

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