Carbonite Inc (CARB) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in Carbonite Inc (NASDAQ:CARB) by 11.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,358 shares of the technology company’s stock after selling 7,011 shares during the period. Bank of Montreal Can owned about 0.16% of Carbonite worth $1,974,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Summit Creek Advisors LLC lifted its position in Carbonite by 17.4% during the third quarter. Summit Creek Advisors LLC now owns 540,933 shares of the technology company’s stock valued at $19,284,000 after purchasing an additional 80,020 shares in the last quarter. United Services Automobile Association lifted its position in shares of Carbonite by 8.0% in the second quarter. United Services Automobile Association now owns 44,802 shares of the technology company’s stock valued at $1,564,000 after acquiring an additional 3,300 shares in the last quarter. Northern Trust Corp lifted its position in shares of Carbonite by 5.0% in the second quarter. Northern Trust Corp now owns 352,548 shares of the technology company’s stock valued at $12,304,000 after acquiring an additional 16,857 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Carbonite by 41.4% in the second quarter. Bank of New York Mellon Corp now owns 338,067 shares of the technology company’s stock valued at $11,798,000 after acquiring an additional 99,018 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of Carbonite by 17.6% in the second quarter. WINTON GROUP Ltd now owns 8,692 shares of the technology company’s stock valued at $303,000 after acquiring an additional 1,298 shares in the last quarter. 84.81% of the stock is owned by institutional investors and hedge funds.

Shares of Carbonite stock opened at $29.74 on Friday. Carbonite Inc has a 52 week low of $20.50 and a 52 week high of $43.63. The stock has a market capitalization of $1.02 billion, a PE ratio of 59.48, a price-to-earnings-growth ratio of 1.33 and a beta of 0.69.

Carbonite (NASDAQ:CARB) last posted its earnings results on Thursday, November 1st. The technology company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $79.10 million for the quarter, compared to the consensus estimate of $80.15 million. Carbonite had a return on equity of 29.30% and a net margin of 1.85%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. As a group, sell-side analysts predict that Carbonite Inc will post 1.13 EPS for the current fiscal year.

Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Carbonite from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday. ValuEngine downgraded Carbonite from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. CIBC restated a “market perform” rating on shares of Carbonite in a research report on Friday, November 2nd. Oppenheimer restated a “market perform” rating on shares of Carbonite in a research report on Friday, November 2nd. Finally, MED downgraded Carbonite from an “outperform” rating to a “market perform” rating in a research report on Friday, November 2nd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Carbonite has an average rating of “Buy” and an average price target of $38.58.

In related news, General Counsel Danielle Sheer sold 5,193 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $30.00, for a total value of $155,790.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Norman Guadagno sold 5,013 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $30.00, for a total value of $150,390.00. The disclosure for this sale can be found here. Insiders sold 81,404 shares of company stock worth $2,995,995 over the last quarter. 9.80% of the stock is owned by company insiders.

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About Carbonite

Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

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Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

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