Carbonite Inc. (CARB) Stake Lowered by California State Teachers Retirement System
California State Teachers Retirement System decreased its stake in shares of Carbonite Inc. (NASDAQ:CARB) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,555 shares of the company’s stock after selling 800 shares during the period. California State Teachers Retirement System owned about 0.14% of Carbonite worth $365,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. 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. Bank of New York Mellon Corp raised its position in shares of Carbonite by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 220,164 shares of the company’s stock valued at $2,142,000 after buying an additional 5,694 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. Aberdeen Asset Management PLC UK purchased a new position in shares of Carbonite during the second quarter valued at about $117,000. Finally, Bank of Montreal Can purchased a new position in shares of Carbonite during the second quarter valued at about $135,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.
Carbonite Inc. (NASDAQ:CARB) traded up 2.29% during midday trading on Friday, reaching $16.10. The company’s stock had a trading volume of 306,635 shares. Carbonite Inc. has a 52 week low of $6.50 and a 52 week high of $16.27. The firm’s market cap is $435.34 million. The firm has a 50 day moving average price of $14.66 and a 200-day moving average price of $11.00.
Carbonite (NASDAQ:CARB) last issued its earnings results on Tuesday, August 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $44.19 million. During the same period last year, the business posted ($0.01) EPS. Carbonite’s revenue was up 57.2% on a year-over-year basis. On average, analysts forecast that Carbonite Inc. will post $0.50 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the company. B. Riley restated a “buy” rating and set a $17.00 price target on shares of Carbonite in a research note on Wednesday, September 28th. Zacks Investment Research lowered Carbonite from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Oppenheimer Holdings Inc. upgraded Carbonite from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Tuesday.
In related news, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $13.23, for a total value of $79,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $166,053.96. Following the completion of the sale, the insider now owns 42,378 shares of the company’s stock, valued at $534,810.36. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by corporate 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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