Oberweis Asset Management Inc. increased its stake in Carbonite Inc (NASDAQ:CARB) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 247,454 shares of the technology company’s stock after purchasing an additional 420 shares during the period. Carbonite makes up 1.4% of Oberweis Asset Management Inc.’s holdings, making the stock its 16th biggest holding. Oberweis Asset Management Inc. owned 0.72% of Carbonite worth $6,251,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Carbonite by 41.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 338,067 shares of the technology company’s stock valued at $11,798,000 after buying an additional 99,018 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Carbonite by 154.8% during the 3rd quarter. Wells Fargo & Company MN now owns 361,810 shares of the technology company’s stock valued at $12,900,000 after purchasing an additional 219,826 shares during the last quarter. American Century Companies Inc. acquired a new stake in Carbonite during the 3rd quarter valued at $6,119,000. WINTON GROUP Ltd lifted its holdings in Carbonite by 30.4% during the 3rd quarter. WINTON GROUP Ltd now owns 11,332 shares of the technology company’s stock valued at $404,000 after purchasing an additional 2,640 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Carbonite by 25.9% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 44,566 shares of the technology company’s stock valued at $1,589,000 after purchasing an additional 9,156 shares during the last quarter.
In other Carbonite news, SVP Norman Guadagno sold 1,800 shares of Carbonite stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $22.53, for a total value of $40,554.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Anthony Folger sold 1,631 shares of Carbonite stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $25.67, for a total value of $41,867.77. The disclosure for this sale can be found here. Insiders sold 80,934 shares of company stock worth $2,113,047 in the last 90 days. 9.80% of the stock is owned by company insiders.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings results on Thursday, February 7th. The technology company reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.16. Carbonite had a return on equity of 24.20% and a net margin of 2.54%. The company had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $79.53 million. During the same quarter last year, the business earned $0.30 earnings per share. Carbonite’s revenue was up 24.8% on a year-over-year basis. Research analysts expect that Carbonite Inc will post 1.27 EPS for the current year.
Several equities research analysts have issued reports on the company. Stifel Nicolaus downgraded Carbonite from a “buy” rating to a “hold” rating and cut their price target for the company from $44.00 to $25.00 in a report on Friday, February 8th. Lake Street Capital raised their price target on Carbonite to $39.00 and gave the company a “buy” rating in a report on Friday, February 8th. Zacks Investment Research downgraded Carbonite from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Finally, Barclays raised Carbonite from an “equal weight” rating to an “overweight” rating and set a $38.00 price target for the company in a report on Wednesday, January 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $37.00.
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, a cloud backup solution for individuals and businesses that protects customer data from accidental deletions, crashes, ransomware, viruses, and other common threats; and Carbonite Endpoint that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.
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