D. E. Shaw & Co. Inc. decreased its holdings in shares of Carbonite Inc (NASDAQ:CARB) by 32.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,793 shares of the technology company’s stock after selling 4,232 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Carbonite were worth $229,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Campbell & CO Investment Adviser LLC lifted its holdings in Carbonite by 5.8% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 20,825 shares of the technology company’s stock valued at $542,000 after purchasing an additional 1,136 shares during the last quarter. Scout Investments Inc. lifted its holdings in Carbonite by 96.3% during the 2nd quarter. Scout Investments Inc. now owns 363,868 shares of the technology company’s stock valued at $9,475,000 after purchasing an additional 178,530 shares during the last quarter. Bernzott Capital Advisors acquired a new stake in Carbonite during the 2nd quarter valued at $14,798,000. Carillon Tower Advisers Inc. lifted its holdings in Carbonite by 21.2% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 218,565 shares of the technology company’s stock valued at $5,691,000 after purchasing an additional 38,175 shares during the last quarter. Finally, Atria Investments LLC acquired a new stake in Carbonite during the 2nd quarter valued at $78,000.
CARB has been the subject of several research reports. Northland Securities reaffirmed a “buy” rating and set a $30.00 price target on shares of Carbonite in a report on Thursday, September 5th. ValuEngine raised Carbonite from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. JMP Securities dropped their target price on Carbonite to $28.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Craig Hallum downgraded Carbonite from a “buy” rating to a “hold” rating and dropped their target price for the stock from $43.00 to $25.00 in a report on Friday, July 26th. Finally, B. Riley set a $35.00 target price on Carbonite and gave the stock a “buy” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.80.
Carbonite (NASDAQ:CARB) last posted its earnings results on Thursday, July 25th. The technology company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.09. The company had revenue of $121.51 million during the quarter, compared to the consensus estimate of $129.68 million. Carbonite had a positive return on equity of 20.11% and a negative net margin of 2.22%. The company’s revenue was up 56.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 earnings per share. On average, equities research analysts predict that Carbonite Inc will post 1.47 earnings per share for the current fiscal year.
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, 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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