Carbonite, Inc. (CARB) Insider Sells $117,973.44 in Stock

Carbonite, Inc. (NASDAQ:CARB) insider Cassandra Hudson sold 5,382 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $21.92, for a total transaction of $117,973.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cassandra Hudson also recently made the following trade(s):

  • On Friday, February 2nd, Cassandra Hudson sold 5,252 shares of Carbonite stock. The shares were sold at an average price of $24.06, for a total transaction of $126,363.12.
  • On Monday, February 5th, Cassandra Hudson sold 9,410 shares of Carbonite stock. The shares were sold at an average price of $23.85, for a total transaction of $224,428.50.

Carbonite, Inc. (NASDAQ CARB) traded up $4.82 during trading hours on Wednesday, reaching $26.52. 1,717,789 shares of the company’s stock were exchanged, compared to its average volume of 286,803. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $591.09, a P/E ratio of -241.14, a P/E/G ratio of 1.69 and a beta of 0.33. Carbonite, Inc. has a 12 month low of $18.20 and a 12 month high of $27.00.

Carbonite (NASDAQ:CARB) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $61.69 million for the quarter, compared to the consensus estimate of $63.72 million. Carbonite had a negative net margin of 1.32% and a positive return on equity of 32.85%. research analysts anticipate that Carbonite, Inc. will post 0.39 earnings per share for the current year.

CARB has been the topic of several recent analyst reports. Lake Street Capital reissued a “buy” rating and set a $27.00 price objective (up previously from $25.00) on shares of Carbonite in a research note on Wednesday. B. Riley upped their price objective on shares of Carbonite from $30.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday. BidaskClub raised shares of Carbonite from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Finally, JMP Securities initiated coverage on shares of Carbonite in a research note on Tuesday, October 17th. They set an “outperform” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $29.86.

A number of large investors have recently bought and sold shares of the business. Cramer Rosenthal Mcglynn LLC purchased a new position in Carbonite during the fourth quarter worth approximately $12,272,000. Stone Ridge Asset Management LLC purchased a new position in Carbonite during the fourth quarter worth approximately $336,000. Deutsche Bank AG raised its stake in Carbonite by 82.2% during the fourth quarter. Deutsche Bank AG now owns 55,845 shares of the technology company’s stock worth $1,399,000 after purchasing an additional 25,200 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in Carbonite by 22.0% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,467,017 shares of the technology company’s stock worth $36,822,000 after purchasing an additional 264,382 shares during the period. Finally, Moors & Cabot Inc. purchased a new position in Carbonite during the fourth quarter worth approximately $220,000. 92.56% of the stock is currently owned by institutional investors.

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About Carbonite

Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.

Insider Buying and Selling by Quarter for Carbonite (NASDAQ:CARB)

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