Carbonite, Inc. (CARB) Shares Sold by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. reduced its position in Carbonite, Inc. (NASDAQ:CARB) by 28.4% during the first quarter, Holdings Channel reports. The firm owned 62,995 shares of the technology company’s stock after selling 25,000 shares during the period. Goldman Sachs Group Inc.’s holdings in Carbonite were worth $1,279,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of CARB. Renaissance Technologies LLC raised its position in shares of Carbonite by 9.5% in the first quarter. Renaissance Technologies LLC now owns 2,186,400 shares of the technology company’s stock worth $44,384,000 after buying an additional 190,000 shares during the period. Vanguard Group Inc. raised its position in shares of Carbonite by 41.5% in the first quarter. Vanguard Group Inc. now owns 1,468,756 shares of the technology company’s stock worth $29,816,000 after buying an additional 430,556 shares during the period. Pembroke Management LTD raised its position in shares of Carbonite by 16.5% in the first quarter. Pembroke Management LTD now owns 1,239,500 shares of the technology company’s stock worth $25,161,000 after buying an additional 175,700 shares during the period. TimesSquare Capital Management LLC purchased a new position in shares of Carbonite during the first quarter worth about $20,504,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Carbonite by 54.3% in the first quarter. Dimensional Fund Advisors LP now owns 807,557 shares of the technology company’s stock worth $16,393,000 after buying an additional 284,133 shares during the period. Institutional investors own 94.24% of the company’s stock.
Shares of Carbonite, Inc. (NASDAQ CARB) traded down 3.60% during midday trading on Thursday, reaching $20.10. The company’s stock had a trading volume of 128,791 shares. Carbonite, Inc. has a 52 week low of $12.81 and a 52 week high of $24.60. The company has a 50 day moving average of $22.58 and a 200-day moving average of $20.51. The stock has a market capitalization of $558.76 million, a price-to-earnings ratio of 957.14 and a beta of 0.13.
Carbonite (NASDAQ:CARB) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Carbonite had a net margin of 0.29% and a return on equity of 36.43%. The business had revenue of $59 million during the quarter, compared to analysts’ expectations of $59.97 million. During the same period in the prior year, the company earned $0.19 earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts predict that Carbonite, Inc. will post $0.76 earnings per share for the current year.
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A number of equities analysts recently issued reports on CARB shares. B. Riley restated a “buy” rating and issued a $26.00 target price on shares of Carbonite in a research note on Wednesday, August 2nd. BidaskClub downgraded Carbonite from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. TheStreet raised Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. Finally, Barclays PLC started coverage on Carbonite in a research report on Monday, June 26th. They set an “equal weight” rating and a $26.00 price target on the stock. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.43.
In other news, CFO Anthony Folger sold 6,876 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $18.84, for a total value of $129,543.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Norman Guadagno sold 2,489 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $21.65, for a total transaction of $53,886.85. The disclosure for this sale can be found here. Insiders sold 59,987 shares of company stock valued at $1,229,157 over the last ninety days. Corporate insiders own 12.20% of the company’s stock.
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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