Carbonite Inc (CARB) SVP Norman Guadagno Sells 5,013 Shares

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.

Carbonite (NASDAQ:CARB) last announced its quarterly earnings results on Thursday, November 1st. The technology company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The business had revenue of $79.10 million during the quarter, compared to analysts’ expectations of $80.15 million. Carbonite had a return on equity of 29.30% and a net margin of 1.85%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. Analysts predict that Carbonite Inc will post 1.13 EPS for the current fiscal year.

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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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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