Insider Selling: Carbonite Director Sells 30,000 Shares of Stock (CARB)
Carbonite (NASDAQ:CARB) Director Jeffry Flowers unloaded 30,000 shares of the stock on the open market in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $11.00, for a total value of $330,000.00. Following the completion of the sale, the director now directly owns 277,287 shares in the company, valued at approximately $3,050,157. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Carbonite (NASDAQ:CARB) traded down 1.73% during mid-day trading on Thursday, hitting $10.81. The stock had a trading volume of 78,774 shares. Carbonite has a one year low of $8.26 and a one year high of $16.50. The stock has a 50-day moving average of $10.3 and a 200-day moving average of $10.80. The company’s market cap is $288.5 million.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.05) by $0.07. The company had revenue of $29.10 million for the quarter, compared to the consensus estimate of $28.60 million. During the same quarter in the prior year, the company posted ($0.18) earnings per share. The company’s quarterly revenue was up 18.8% on a year-over-year basis. Analysts expect that Carbonite will post $-0.08 EPS for the current fiscal year.
CARB has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Carbonite from a “neutral” rating to an “outperform” rating in a research note on Monday, May 5th. They now have a $10.50 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $13.67.
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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