Carbonite Inc (CARB) Director Todd Krasnow Sells 6,218 Shares of Stock

Carbonite Inc (NASDAQ:CARB) Director Todd Krasnow sold 6,218 shares of Carbonite stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $27.91, for a total transaction of $173,544.38. Following the completion of the transaction, the director now owns 220,623 shares in the company, valued at approximately $6,157,587.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Todd Krasnow also recently made the following trade(s):

  • On Tuesday, November 6th, Todd Krasnow sold 6,500 shares of Carbonite stock. The stock was sold at an average price of $29.39, for a total transaction of $191,035.00.

Shares of CARB stock traded down $0.31 during mid-day trading on Friday, reaching $27.67. The stock had a trading volume of 398,278 shares, compared to its average volume of 597,196. Carbonite Inc has a 52-week low of $20.50 and a 52-week high of $43.63. The stock has a market capitalization of $924.08 million, a price-to-earnings ratio of 55.34, a PEG ratio of 1.18 and a beta of 0.69.

Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Carbonite had a net margin of 1.85% and a return on equity of 29.30%. The firm had revenue of $79.10 million for the quarter, compared to analysts’ expectations of $80.15 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, research analysts expect that Carbonite Inc will post 1.13 EPS for the current fiscal year.

A number of brokerages recently commented on CARB. BidaskClub upgraded shares of Carbonite from a “hold” rating to a “buy” rating in a research report on Saturday, September 8th. Oppenheimer boosted their price objective on shares of Carbonite from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 5th. Stifel Nicolaus began coverage on shares of Carbonite in a research report on Monday, August 20th. They issued a “buy” rating and a $44.00 price objective on the stock. Barclays boosted their price objective on shares of Carbonite from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 24th. Finally, Zacks Investment Research cut shares of Carbonite from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 25th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $38.58.

Institutional investors and hedge funds have recently made changes to their positions in the company. NumerixS Investment Technologies Inc bought a new stake in shares of Carbonite during the 2nd quarter valued at about $221,000. Jane Street Group LLC boosted its stake in shares of Carbonite by 222.3% during the 3rd quarter. Jane Street Group LLC now owns 6,665 shares of the technology company’s stock valued at $238,000 after purchasing an additional 12,116 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of Carbonite during the 3rd quarter valued at about $267,000. Raymond James & Associates bought a new stake in shares of Carbonite during the 2nd quarter valued at about $267,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in shares of Carbonite during the 3rd quarter valued at about $285,000. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Carbonite Inc (CARB) Director Todd Krasnow Sells 6,218 Shares of Stock” was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://sportsperspectives.com/2018/11/17/carbonite-inc-carb-director-todd-krasnow-sells-6218-shares-of-stock.html.

Carbonite Company Profile

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.

Featured Story: What is a stock buyback?

Insider Buying and Selling by Quarter for Carbonite (NASDAQ:CARB)

Receive News & Ratings for Carbonite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply