Carbonite Inc (NASDAQ:CARB) SVP Norman Guadagno sold 5,013 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $30.00, for a total value of $150,390.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Norman Guadagno also recently made the following trade(s):
- On Tuesday, October 30th, Norman Guadagno sold 4,294 shares of Carbonite stock. The shares were sold at an average price of $32.55, for a total value of $139,769.70.
- On Tuesday, September 4th, Norman Guadagno sold 12,402 shares of Carbonite stock. The shares were sold at an average price of $41.03, for a total value of $508,854.06.
Shares of NASDAQ CARB traded down $0.89 during trading hours on Friday, hitting $29.74. The stock had a trading volume of 279,645 shares, compared to its average volume of 421,752. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 59.48, a PEG ratio of 1.33 and a beta of 0.69. Carbonite Inc has a 52 week low of $20.50 and a 52 week high of $43.63.
A number of equities analysts have recently weighed in on CARB shares. Oppenheimer upped their target price on Carbonite from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. BidaskClub downgraded Carbonite from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Zacks Investment Research upgraded Carbonite from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Monday, September 24th. Royal Bank of Canada started coverage on Carbonite in a report on Friday, October 5th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, Jefferies Financial Group started coverage on Carbonite in a report on Friday, October 12th. They issued a “buy” rating and a $45.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.58.
Several hedge funds and other institutional investors have recently made changes to their positions in CARB. PNC Financial Services Group Inc. grew its stake in shares of Carbonite by 51,742.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 451,551 shares of the technology company’s stock valued at $16,097,000 after buying an additional 450,680 shares in the last quarter. BlackRock Inc. grew its stake in shares of Carbonite by 22.9% in the 3rd quarter. BlackRock Inc. now owns 2,237,267 shares of the technology company’s stock valued at $79,759,000 after buying an additional 417,253 shares in the last quarter. FIL Ltd bought a new stake in shares of Carbonite in the 3rd quarter valued at approximately $12,221,000. Wells Fargo & Company MN grew its stake in shares of Carbonite by 154.8% in the 3rd quarter. Wells Fargo & Company MN now owns 361,810 shares of the technology company’s stock valued at $12,900,000 after buying an additional 219,826 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Carbonite by 64.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 554,689 shares of the technology company’s stock valued at $19,775,000 after buying an additional 216,622 shares in the last quarter. 84.81% of the stock is owned by institutional investors and hedge funds.
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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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