Carbonite Inc. (CARB) is Algert Global LLC’s 6th Largest Position
Algert Global LLC boosted its stake in shares of Carbonite Inc. (NASDAQ:CARB) by 127.2% during the third quarter, Holdings Channel reports. The firm owned 215,438 shares of the company’s stock after buying an additional 120,607 shares during the period. Carbonite comprises about 1.0% of Algert Global LLC’s holdings, making the stock its 6th largest position. Algert Global LLC’s holdings in Carbonite were worth $3,309,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the stock. Royce & Associates LP raised its position in Carbonite by 8.2% in the first quarter. Royce & Associates LP now owns 198,100 shares of the company’s stock valued at $1,579,000 after buying an additional 15,000 shares during the period. Menta Capital LLC raised its position in 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 during the period. Spark Investment Management LLC raised its position in Carbonite by 18.9% in the first quarter. Spark Investment Management LLC now owns 179,800 shares of the company’s stock valued at $1,433,000 after buying an additional 28,600 shares during the period. Geode Capital Management LLC raised its position in 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 during the period. Finally, Skylands Capital LLC purchased a new position in Carbonite during the second quarter valued at $247,000. 64.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Carbonite Inc. (NASDAQ:CARB) opened at 15.71 on Wednesday. The stock’s market cap is $424.80 million. The company has a 50-day moving average of $14.44 and a 200 day moving average of $10.87. Carbonite Inc. has a one year low of $6.50 and a one year high of $16.27.
Carbonite (NASDAQ:CARB) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.16. The business earned $53.40 million during the quarter, compared to the consensus estimate of $44.19 million. Carbonite had a negative return on equity of 453.55% and a negative net margin of 7.36%. The company’s revenue was up 57.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) earnings per share. On average, equities analysts forecast that Carbonite Inc. will post $0.50 earnings per share for the current fiscal year.
Several equities research analysts recently commented on CARB shares. B. Riley started coverage on shares of Carbonite in a report on Tuesday, June 14th. They issued a “buy” rating and a $15.00 price target for the company. Zacks Investment Research lowered shares of Carbonite from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Oppenheimer Holdings Inc. raised shares of Carbonite from a “market perform” rating to an “outperform” rating in a report on Tuesday.
In related news, Director Jeffry Flowers sold 70,000 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $14.45, for a total transaction of $1,011,500.00. Following the completion of the sale, the director now directly owns 160,367 shares of the company’s stock, valued at $2,317,303.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $13.23, for a total value of $79,380.00. The disclosure for this sale can be found here. 15.80% of the stock is owned by insiders.
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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