Xact Kapitalforvaltning AB acquired a new stake in shares of Carbonite Inc (NASDAQ:CARB) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,500 shares of the technology company’s stock, valued at approximately $267,000.
A number of other large investors have also recently added to or reduced their stakes in the business. WINTON GROUP Ltd increased its stake in Carbonite by 17.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,692 shares of the technology company’s stock valued at $303,000 after purchasing an additional 1,298 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Carbonite by 20.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 9,634 shares of the technology company’s stock valued at $336,000 after purchasing an additional 1,618 shares in the last quarter. Aperio Group LLC increased its stake in Carbonite by 10.3% during the 2nd quarter. Aperio Group LLC now owns 20,941 shares of the technology company’s stock valued at $731,000 after purchasing an additional 1,955 shares in the last quarter. United Services Automobile Association increased its stake in Carbonite by 8.0% during the 2nd quarter. United Services Automobile Association now owns 44,802 shares of the technology company’s stock valued at $1,564,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Carbonite by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,135,741 shares of the technology company’s stock valued at $39,637,000 after purchasing an additional 3,349 shares in the last quarter. Institutional investors and hedge funds own 84.81% of the company’s stock.
A number of analysts have weighed in on the stock. BidaskClub lowered shares of Carbonite from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Zacks Investment Research upgraded shares of Carbonite from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a research note on Tuesday. Barclays lifted their price target on shares of Carbonite from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 24th. Oppenheimer reiterated a “market perform” rating on shares of Carbonite in a research note on Friday, November 2nd. Finally, CIBC reiterated a “market perform” rating on shares of Carbonite in a research note on Friday, November 2nd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $38.58.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings data on Thursday, November 1st. The technology company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. Carbonite had a return on equity of 29.30% and a net margin of 1.85%. The company had revenue of $79.10 million during the quarter, compared to analysts’ expectations of $80.15 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities research analysts forecast that Carbonite Inc will post 1.12 EPS for the current fiscal year.
In other news, SVP Norman Guadagno sold 12,402 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $41.03, for a total value of $508,854.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Deepak Mohan sold 1,355 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $42.85, for a total value of $58,061.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,698 shares of company stock valued at $2,498,780. 9.80% of the stock is owned by company insiders.
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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.
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