Mohamad Ali Sells 4,000 Shares of Carbonite Inc (CARB) Stock

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Carbonite Inc (NASDAQ:CARB) CEO Mohamad Ali sold 4,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $24.46, for a total transaction of $97,840.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Mohamad Ali also recently made the following trade(s):

  • On Thursday, March 14th, Mohamad Ali sold 4,000 shares of Carbonite stock. The stock was sold at an average price of $24.45, for a total transaction of $97,800.00.
  • On Thursday, February 14th, Mohamad Ali sold 21,511 shares of Carbonite stock. The stock was sold at an average price of $24.70, for a total transaction of $531,321.70.
  • On Tuesday, January 29th, Mohamad Ali sold 10,353 shares of Carbonite stock. The stock was sold at an average price of $27.56, for a total transaction of $285,328.68.
  • On Wednesday, December 19th, Mohamad Ali sold 3,999 shares of Carbonite stock. The stock was sold at an average price of $25.55, for a total transaction of $102,174.45.

NASDAQ CARB opened at $24.04 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.59 and a current ratio of 1.59. Carbonite Inc has a 12 month low of $21.83 and a 12 month high of $43.63. The company has a market capitalization of $842.98 million, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 0.96 and a beta of 0.72.

Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, February 7th. The technology company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. Carbonite had a net margin of 2.54% and a return on equity of 24.20%. The business had revenue of $77.00 million for the quarter, compared to the consensus estimate of $79.53 million. During the same period in the previous year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, research analysts expect that Carbonite Inc will post 1.27 EPS for the current fiscal year.

CARB has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Carbonite from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. Barclays upgraded shares of Carbonite from an “equal weight” rating to an “overweight” rating and set a $38.00 price target on the stock in a research report on Wednesday, January 9th. Zacks Investment Research upgraded shares of Carbonite from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, January 9th. Stifel Nicolaus downgraded shares of Carbonite from a “buy” rating to a “hold” rating and dropped their price target for the stock from $44.00 to $25.00 in a research report on Friday, February 8th. Finally, Lake Street Capital boosted their price target on shares of Carbonite to $39.00 and gave the stock a “buy” rating in a research report on Friday, February 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $37.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Carbonite by 3.2% in the 4th quarter. BlackRock Inc. now owns 2,309,744 shares of the technology company’s stock worth $58,344,000 after purchasing an additional 72,477 shares in the last quarter. ETF Managers Group LLC raised its holdings in shares of Carbonite by 19.2% in the 4th quarter. ETF Managers Group LLC now owns 1,942,525 shares of the technology company’s stock worth $49,068,000 after purchasing an additional 312,323 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Carbonite by 30.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,866,217 shares of the technology company’s stock worth $66,531,000 after purchasing an additional 435,554 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Carbonite by 30.4% in the 3rd quarter. Vanguard Group Inc now owns 1,866,217 shares of the technology company’s stock worth $66,531,000 after purchasing an additional 435,554 shares in the last quarter. Finally, Portolan Capital Management LLC raised its holdings in shares of Carbonite by 19.2% in the 4th quarter. Portolan Capital Management LLC now owns 1,818,977 shares of the technology company’s stock worth $45,947,000 after purchasing an additional 293,489 shares in the last quarter.

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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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