Carbonite, Inc. (CARB) Holdings Boosted by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. boosted its holdings in Carbonite, Inc. (NASDAQ:CARB) by 867.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,836 shares of the technology company’s stock after buying an additional 155,863 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.63% of Carbonite worth $3,790,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of CARB. Wells Fargo & Company MN raised its position in Carbonite by 50.6% in the 1st quarter. Wells Fargo & Company MN now owns 77,254 shares of the technology company’s stock worth $1,568,000 after buying an additional 25,943 shares during the last quarter. Karp Capital Management Corp purchased a new position in Carbonite in the 1st quarter worth about $305,000. Stifel Financial Corp purchased a new position in Carbonite in the 1st quarter worth about $251,000. American International Group Inc. raised its position in Carbonite by 7.1% in the 1st quarter. American International Group Inc. now owns 10,951 shares of the technology company’s stock worth $222,000 after buying an additional 728 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Carbonite by 4.9% in the 1st quarter. Alliancebernstein L.P. now owns 12,850 shares of the technology company’s stock worth $261,000 after buying an additional 600 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Anthony Folger sold 7,500 shares of Carbonite stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $20.59, for a total transaction of $154,425.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cassandra Hudson sold 1,563 shares of Carbonite stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $22.05, for a total value of $34,464.15. The disclosure for this sale can be found here. Insiders have sold 30,421 shares of company stock valued at $641,877 in the last ninety days. Corporate insiders own 12.20% of the company’s stock.
A number of brokerages have weighed in on CARB. B. Riley reissued a “buy” rating and issued a $26.00 target price on shares of Carbonite in a research report on Monday, August 7th. BidaskClub lowered Carbonite from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Barclays PLC reissued an “equal weight” rating and issued a $27.00 target price (up previously from $26.00) on shares of Carbonite in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $30.00 target price on shares of Carbonite in a research report on Thursday, September 21st. Finally, TheStreet raised Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Carbonite currently has an average rating of “Buy” and an average price target of $27.33.
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Shares of Carbonite, Inc. (NASDAQ CARB) opened at 22.80 on Friday. The stock’s 50 day moving average is $20.94 and its 200 day moving average is $20.93. The stock has a market cap of $633.82 million, a price-to-earnings ratio of 1085.71 and a beta of 0.27. Carbonite, Inc. has a 52-week low of $14.10 and a 52-week high of $24.60.
Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, August 3rd. The technology company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Carbonite had a return on equity of 36.43% and a net margin of 0.29%. The firm had revenue of $59.00 million during the quarter, compared to the consensus estimate of $59.97 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year. On average, equities analysts predict that Carbonite, Inc. will post $0.76 EPS for the current fiscal year.
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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