Shares of Carbonite Inc. (NASDAQ:CARB) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $14.72 and last traded at $14.34, with a volume of 177,499 shares traded. The stock had previously closed at $14.25.

A number of analysts recently issued reports on the stock. B. Riley restated a “buy” rating and issued a $17.00 price target on shares of Carbonite in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Carbonite from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $13.33.

The firm’s 50 day moving average is $13.59 and its 200-day moving average is $10.10. The firm’s market capitalization is $389.51 million.

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Carbonite (NASDAQ:CARB) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.19 EPS 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 analysts’ expectations of $44.19 million. Carbonite had a negative return on equity of 453.55% and a negative net margin of 7.36%. The firm’s quarterly revenue was up 57.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. Equities research analysts forecast that Carbonite Inc. will post $0.50 EPS for the current year.

In other Carbonite news, insider Cassandra Hudson sold 13,158 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction that occurred 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 corporate insiders.

A number of large investors have recently made changes to their positions in CARB. Aberdeen Asset Management PLC UK bought a new stake in shares of Carbonite during the second quarter worth about $117,000. Wedge Capital Management L L P NC bought a new stake in shares of Carbonite during the second quarter worth about $280,000. Essex Investment Management Co. LLC bought a new stake in shares of Carbonite during the second quarter worth about $325,000. American Century Companies Inc. boosted its stake 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 worth $281,000 after buying an additional 852 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Carbonite during the second quarter worth about $135,000. 64.51% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:CARB

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