Bank of New York Mellon Corp raised its position in shares of Carbonite Inc. (NASDAQ:CARB) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 220,164 shares of the company’s stock after buying an additional 5,694 shares during the period. Bank of New York Mellon Corp owned 0.82% of Carbonite worth $2,142,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in CARB. Aberdeen Asset Management PLC UK acquired a new position in shares of Carbonite during the second quarter worth about $117,000. Bank of Montreal Can acquired a new position in shares of Carbonite during the second quarter worth about $135,000. Skylands Capital LLC acquired a new position in shares of Carbonite during the second quarter worth about $247,000. Wedge Capital Management L L P NC acquired a new position in shares of Carbonite during the second quarter worth about $280,000. Finally, American Century Companies Inc. increased its position in shares of Carbonite by 3.0% in the second quarter. American Century Companies Inc. now owns 28,925 shares of the company’s stock worth $281,000 after buying an additional 852 shares in the last quarter. 64.51% of the stock is currently owned by institutional investors.
Shares of Carbonite Inc. (NASDAQ:CARB) traded down 1.99% during mid-day trading on Thursday, reaching $14.80. The company had a trading volume of 248,897 shares. The company’s market capitalization is $400.19 million. The firm has a 50-day moving average of $14.22 and a 200-day moving average of $10.66. Carbonite Inc. has a 12-month low of $6.50 and a 12-month high of $15.77.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.16. Carbonite had a negative net margin of 7.36% and a negative return on equity of 453.55%. The business earned $53.40 million during the quarter, compared to analyst estimates of $44.19 million. During the same period last year, the business posted ($0.01) earnings per share. Carbonite’s quarterly revenue was up 57.2% compared to the same quarter last year. On average, equities analysts anticipate that Carbonite Inc. will post $0.50 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on CARB shares. B. Riley started coverage on Carbonite in a research note on Tuesday, June 14th. They issued a “buy” rating and a $15.00 price objective on the stock. Zacks Investment Research raised Carbonite from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, July 12th.
In other Carbonite news, insider Cassandra Hudson sold 13,158 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $12.62, for a total value of $166,053.96. Following the completion of the sale, the insider now directly owns 42,378 shares in the company, valued at $534,810.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $13.23, for a total transaction of $79,380.00. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by company insiders.
Carbonite Company Profile
Carbonite, Inc (Carbonite) is a provider of cloud and business continuity solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses and individuals. It offers various solutions, such as Carbonite Personal, Carbonite Pro, Carbonite Server Backup and MailStore.
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