Carbonite Inc (NASDAQ:CARB) SVP Paul S. Mellinger sold 3,524 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $36.84, for a total transaction of $129,824.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Paul S. Mellinger also recently made the following trade(s):

  • On Thursday, August 30th, Paul S. Mellinger sold 550 shares of Carbonite stock. The shares were sold at an average price of $41.60, for a total transaction of $22,880.00.

Shares of CARB opened at $38.00 on Wednesday. Carbonite Inc has a one year low of $20.35 and a one year high of $43.63. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 45.56, a PEG ratio of 0.88 and a beta of 0.50. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.85.

Carbonite (NASDAQ:CARB) last announced its earnings results on Thursday, August 2nd. The technology company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.30 by $0.15. Carbonite had a net margin of 0.39% and a return on equity of 46.67%. The company had revenue of $77.70 million during the quarter, compared to analysts’ expectations of $78.89 million. During the same period last year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. analysts anticipate that Carbonite Inc will post 1.05 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in CARB. Summit Trail Advisors LLC boosted its holdings in shares of Carbonite by 3,277.3% in the first quarter. Summit Trail Advisors LLC now owns 120,436 shares of the technology company’s stock worth $120,000 after buying an additional 116,870 shares during the period. Koch Industries Inc. acquired a new position in shares of Carbonite in the first quarter worth about $201,000. WINTON GROUP Ltd acquired a new position in shares of Carbonite in the first quarter worth about $213,000. NumerixS Investment Technologies Inc acquired a new position in shares of Carbonite in the second quarter worth about $221,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Carbonite by 56.3% in the first quarter. BNP Paribas Arbitrage SA now owns 8,172 shares of the technology company’s stock worth $235,000 after buying an additional 2,943 shares during the period. Institutional investors own 84.37% of the company’s stock.

CARB has been the subject of several research reports. BidaskClub upgraded shares of Carbonite from a “hold” rating to a “buy” rating in a research report on Saturday, July 7th. ValuEngine lowered shares of Carbonite from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 2nd. Stifel Nicolaus initiated coverage on shares of Carbonite in a research report on Monday, August 20th. They set a “buy” rating and a $44.00 price objective for the company. TheStreet upgraded shares of Carbonite from a “d+” rating to a “c” rating in a research report on Friday, August 3rd. Finally, Barclays raised their price objective on shares of Carbonite from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, July 12th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $38.50.

Carbonite Company Profile

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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Insider Buying and Selling by Quarter for Carbonite (NASDAQ:CARB)

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