Royce & Associates LP Acquires 45,300 Shares of Carbonite, Inc. (CARB)

Royce & Associates LP increased its position in shares of Carbonite, Inc. (NASDAQ:CARB) by 21.1% during the first quarter, Holdings Channel reports. The institutional investor owned 260,400 shares of the technology company’s stock after buying an additional 45,300 shares during the period. Royce & Associates LP’s holdings in Carbonite were worth $5,286,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CARB. Renaissance Technologies LLC boosted its stake in shares of Carbonite by 18.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,996,400 shares of the technology company’s stock worth $32,741,000 after buying an additional 316,500 shares in the last quarter. Pembroke Management LTD boosted its stake in shares of Carbonite by 16.5% in the first quarter. Pembroke Management LTD now owns 1,239,500 shares of the technology company’s stock valued at $25,161,000 after buying an additional 175,700 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Carbonite by 392.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 523,424 shares of the technology company’s stock valued at $8,584,000 after buying an additional 417,166 shares during the period. Northpointe Capital LLC acquired a new stake in shares of Carbonite during the first quarter valued at approximately $10,061,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Carbonite by 32.4% in the first quarter. Russell Investments Group Ltd. now owns 472,117 shares of the technology company’s stock valued at $9,585,000 after buying an additional 115,416 shares during the period. Institutional investors and hedge funds own 91.36% of the company’s stock.

Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

Shares of Carbonite, Inc. (NASDAQ CARB) traded down 1.165% during trading on Tuesday, reaching $23.325. The company had a trading volume of 121,359 shares. The company has a 50 day moving average of $20.29 and a 200-day moving average of $19.06. Carbonite, Inc. has a 52-week low of $8.81 and a 52-week high of $24.00. The firm has a market capitalization of $641.25 million, a P/E ratio of 77.492 and a beta of 0.23.

Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, May 4th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. Carbonite had a return on equity of 200.32% and a net margin of 3.79%. The firm had revenue of $57.10 million for the quarter, compared to analyst estimates of $55.49 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis. Equities analysts expect that Carbonite, Inc. will post $0.77 earnings per share for the current year.

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CARB has been the topic of several research reports. Craig Hallum initiated coverage on shares of Carbonite in a research report on Thursday, March 16th. They issued a “buy” rating and a $30.00 price target on the stock. Lake Street Capital boosted their price target on shares of Carbonite from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. Finally, B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Carbonite in a research report on Monday, May 8th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Carbonite has an average rating of “Buy” and an average target price of $24.60.

In other Carbonite news, CFO Anthony Folger sold 6,141 shares of the stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $19.38, for a total value of $119,012.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cassandra Hudson sold 2,187 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $21.76, for a total value of $47,589.12. The disclosure for this sale can be found here. Insiders sold 68,502 shares of company stock worth $1,389,175 in the last three months. Insiders own 12.20% of the company’s stock.

Carbonite Company Profile

Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CARB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding CARB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carbonite, Inc. (NASDAQ:CARB).

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