Carbonite (CARB) Hits New 12-Month High and Low at $41.25
Carbonite Inc (NASDAQ:CARB) reached a new 52-week high and low on Thursday . The company traded as low as $41.25 and last traded at $40.70, with a volume of 9357 shares. The stock had previously closed at $41.00.
CARB has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Carbonite from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Tuesday, March 20th. B. Riley increased their price objective on Carbonite from $30.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Lake Street Capital reiterated a “buy” rating and set a $27.00 price objective (up previously from $25.00) on shares of Carbonite in a research report on Wednesday, February 14th. BidaskClub upgraded Carbonite from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, JMP Securities upgraded Carbonite to an “outperform” rating in a research report on Sunday, April 29th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Carbonite presently has an average rating of “Buy” and a consensus price target of $33.63.
The stock has a market cap of $1.13 billion, a P/E ratio of 81.00, a price-to-earnings-growth ratio of 0.96 and a beta of 0.24. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.02.
In other news, General Counsel Danielle Sheer sold 1,167 shares of the stock in a transaction on Friday, April 27th. The stock was sold at an average price of $31.05, for a total value of $36,235.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony Folger sold 8,531 shares of the stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $38.80, for a total value of $331,002.80. The disclosure for this sale can be found here. Insiders have sold a total of 83,555 shares of company stock valued at $2,797,801 in the last quarter. Insiders own 9.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CARB. Wells Fargo & Company MN lifted its holdings in shares of Carbonite by 18.7% in the fourth quarter. Wells Fargo & Company MN now owns 37,935 shares of the technology company’s stock valued at $952,000 after purchasing an additional 5,968 shares in the last quarter. Suffolk Capital Management LLC purchased a new stake in shares of Carbonite in the fourth quarter valued at $892,000. Schroder Investment Management Group lifted its holdings in shares of Carbonite by 145.6% in the fourth quarter. Schroder Investment Management Group now owns 630,811 shares of the technology company’s stock valued at $15,833,000 after purchasing an additional 373,958 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Carbonite by 2.2% in 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. Finally, Brown Advisory Inc. lifted its holdings in shares of Carbonite by 76.4% in the fourth quarter. Brown Advisory Inc. now owns 27,539 shares of the technology company’s stock valued at $691,000 after purchasing an additional 11,925 shares in the last quarter. Institutional investors own 96.23% of the company’s stock.
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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