Essex Investment Management Co. LLC purchased a new stake in shares of Carbonite Inc. (NASDAQ:CARB) during the second quarter, Holdings Channel reports. The fund purchased 33,409 shares of the company’s stock, valued at approximately $325,000.
Other hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can bought a new position in shares of Carbonite during the second quarter valued at approximately $135,000. Skylands Capital LLC bought a new position in shares of Carbonite during the second quarter valued at approximately $247,000. American Century Companies Inc. raised 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 valued at $281,000 after buying an additional 852 shares in the last quarter. Menta Capital LLC raised its position in shares of Carbonite by 31.3% in the first quarter. Menta Capital LLC now owns 42,671 shares of the company’s stock valued at $340,000 after buying an additional 10,176 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Carbonite by 16.6% in the first quarter. Geode Capital Management LLC now owns 126,205 shares of the company’s stock valued at $1,005,000 after buying an additional 17,925 shares in the last quarter. 64.51% of the stock is owned by institutional investors and hedge funds.
Carbonite Inc. (NASDAQ:CARB) traded down 0.20% during midday trading on Friday, reaching $14.79. 514,220 shares of the company’s stock were exchanged. Carbonite Inc. has a 52 week low of $6.50 and a 52 week high of $15.77. The firm’s market capitalization is $399.92 million. The stock’s 50 day moving average is $14.32 and its 200 day moving average is $10.74.
Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the 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 company earned $53.40 million during the quarter, compared to the consensus estimate of $44.19 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. Carbonite’s revenue for the quarter was up 57.2% on a year-over-year basis. On average, analysts expect that Carbonite Inc. will post $0.50 EPS for the current fiscal year.
CARB has been the topic of several recent analyst reports. B. Riley restated a “buy” rating and issued a $17.00 price objective on shares of Carbonite in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Carbonite from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, July 12th.
In other news, Director Jeffry Flowers sold 70,000 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $14.45, for a total transaction of $1,011,500.00. Following the transaction, the director now directly owns 160,367 shares of the company’s stock, valued at $2,317,303.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cassandra Hudson sold 13,158 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $12.62, for a total transaction of $166,053.96. Following the transaction, the insider now directly owns 42,378 shares in the company, valued at $534,810.36. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.
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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