Insider Selling: Carbonite EVP Unloads 12,500 Shares of Stock (CARB)
Carbonite (NASDAQ:CARB) EVP Swami Kumaresan sold 12,500 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $16.50, for a total value of $206,250.00. Following the sale, the executive vice president now directly owns 63,268 shares in the company. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on CARB. Analysts at Zacks upgraded shares of Carbonite (NASDAQ:CARB) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, August 6th. They now have a $14.10 price target on the stock. Separately, analysts at Northland Capital Partners upgraded shares of Carbonite (NASDAQ:CARB) from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, August 1st. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Carbonite (NASDAQ:CARB) from $13.00 to $16.00 in a research note to investors on Thursday, August 1st. They now have an “overweight” rating on the stock.
Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Carbonite has an average rating of “Buy” and a consensus target price of $15.16.
Shares of Carbonite (NASDAQ:CARB) traded down 10.07% on Thursday, hitting $14.82. The stock had a trading volume of 341,064 shares. Carbonite has a 52-week low of $5.75 and a 52-week high of $16.50. The stock’s 50-day moving average is $14.07 and its 200-day moving average is $11.89. The company’s market cap is $388.1 million.
Carbonite (NASDAQ:CARB) last announced its earnings results on Tuesday, July 30th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.09. The company had revenue of $26.20 million for the quarter, compared to the consensus estimate of $25.81 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was up 29.7% on a year-over-year basis. Analysts expect that Carbonite will post $-0.34 EPS for the current fiscal year.
Carbonite, Inc (NASDAQ:CARB) focuses on the development and marketing of personal computer backup software that enables users to backup, access, and restore data files online.
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