Carbonite, Inc. (NASDAQ:CARB) SVP Paul S. Mellinger sold 1,506 shares of Carbonite stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $21.15, for a total transaction of $31,851.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Paul S. Mellinger also recently made the following trade(s):
- On Friday, January 5th, Paul S. Mellinger sold 1,940 shares of Carbonite stock. The shares were sold at an average price of $25.80, for a total transaction of $50,052.00.
Shares of Carbonite, Inc. (NASDAQ CARB) traded up $4.82 on Wednesday, reaching $26.53. 1,717,744 shares of the company’s stock traded hands, compared to its average volume of 239,157. Carbonite, Inc. has a 1-year low of $18.20 and a 1-year high of $27.00. The firm has a market capitalization of $741.30, a P/E ratio of -221.04, a P/E/G ratio of 1.69 and a beta of 0.33. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 3.12.
A number of research firms have recently weighed in on CARB. BidaskClub downgraded shares of Carbonite from a “hold” rating to a “sell” rating in a research report on Tuesday. Lake Street Capital reiterated a “buy” rating and issued a $27.00 price target (up from $25.00) on shares of Carbonite in a research report on Wednesday. JMP Securities began coverage on shares of Carbonite in a research report on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, B. Riley lifted their price target on shares of Carbonite from $30.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $29.86.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Carbonite by 14.8% during the second quarter. Vanguard Group Inc. now owns 1,686,093 shares of the technology company’s stock valued at $36,757,000 after purchasing an additional 217,337 shares in the last quarter. BlackRock Inc. raised its position in Carbonite by 2.2% during the fourth quarter. BlackRock Inc. now owns 1,626,512 shares of the technology company’s stock valued at $40,826,000 after purchasing an additional 34,905 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its position 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 valued at $36,822,000 after purchasing an additional 264,382 shares in the last quarter. Pembroke Management LTD raised its position in Carbonite by 0.4% during the fourth quarter. Pembroke Management LTD now owns 1,250,153 shares of the technology company’s stock valued at $31,378,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Carbonite by 4.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,103,160 shares of the technology company’s stock valued at $24,270,000 after purchasing an additional 46,260 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.
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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.
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