Summit Creek Advisors LLC grew its holdings in Carbonite, Inc. (NASDAQ:CARB) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 613,577 shares of the technology company’s stock after purchasing an additional 56,285 shares during the period. Carbonite comprises about 2.9% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Summit Creek Advisors LLC’s holdings in Carbonite were worth $15,401,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. P.A.W. Capital Corp bought a new stake in shares of Carbonite in the third quarter worth $2,860,000. Swiss National Bank grew its holdings in shares of Carbonite by 17.0% in the second quarter. Swiss National Bank now owns 36,400 shares of the technology company’s stock worth $794,000 after acquiring an additional 5,300 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Carbonite by 12.0% in the second quarter. Bank of New York Mellon Corp now owns 202,196 shares of the technology company’s stock worth $4,407,000 after acquiring an additional 21,623 shares during the period. Northern Trust Corp grew its holdings in shares of Carbonite by 53.5% in the second quarter. Northern Trust Corp now owns 336,735 shares of the technology company’s stock worth $7,341,000 after acquiring an additional 117,319 shares during the period. Finally, Schroder Investment Management Group bought a new stake in shares of Carbonite in the third quarter worth $5,676,000. 94.21% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Anthony Folger sold 6,008 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $22.31, for a total value of $134,038.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Paul S. Mellinger sold 1,940 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $25.80, for a total value of $50,052.00. The disclosure for this sale can be found here. Insiders have sold 39,804 shares of company stock worth $912,531 over the last quarter. 12.20% of the stock is owned by company insiders.

CARB has been the subject of several research analyst reports. BidaskClub raised Carbonite from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Rosenblatt Securities began coverage on Carbonite in a research report on Monday, September 18th. They set a “buy” rating and a $28.00 target price on the stock. Oppenheimer reiterated a “buy” rating and set a $30.00 target price on shares of Carbonite in a research report on Thursday, September 21st. Finally, JMP Securities began coverage on Carbonite in a research report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $27.71.

Carbonite, Inc. (NASDAQ:CARB) traded up $0.10 during midday trading on Tuesday, reaching $26.00. The company had a trading volume of 146,700 shares, compared to its average volume of 188,256. The stock has a market capitalization of $728.03, a P/E ratio of -216.67, a PEG ratio of 2.08 and a beta of 0.37. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 3.12. Carbonite, Inc. has a 12 month low of $15.90 and a 12 month high of $27.00.

Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, November 2nd. The technology company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The company had revenue of $61.60 million for the quarter, compared to the consensus estimate of $61.49 million. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. Carbonite’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. sell-side analysts anticipate that Carbonite, Inc. will post 0.39 earnings per share for the current fiscal year.

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Carbonite Profile

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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Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

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