Insider Selling: Carbonite, Inc. (CARB) VP Sells 4,810 Shares of Stock
Carbonite, Inc. (NASDAQ:CARB) VP Danielle Sheer sold 4,810 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $21.65, for a total transaction of $104,136.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Danielle Sheer also recently made the following trade(s):
- On Monday, June 12th, Danielle Sheer sold 359 shares of Carbonite stock. The shares were sold at an average price of $21.10, for a total transaction of $7,574.90.
- On Friday, May 26th, Danielle Sheer sold 298 shares of Carbonite stock. The shares were sold at an average price of $19.25, for a total transaction of $5,736.50.
Shares of Carbonite, Inc. (NASDAQ:CARB) traded down 2.57% during midday trading on Wednesday, reaching $20.85. 522,362 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $22.71 and its 200 day moving average price is $20.39. The firm has a market capitalization of $573.21 million, a PE ratio of 69.27 and a beta of 0.13. Carbonite, Inc. has a one year low of $12.72 and a one year high of $24.60.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.15 earnings per share (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 88.98%. The business had revenue of $59 million during the quarter, compared to analyst estimates of $59.97 million. During the same period last year, the firm posted $0.19 EPS. The company’s revenue was up 10.5% on a year-over-year basis. On average, equities research analysts expect that Carbonite, Inc. will post $0.76 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Legal & General Group Plc raised its stake in shares of Carbonite by 5.5% in the first quarter. Legal & General Group Plc now owns 5,050 shares of the technology company’s stock worth $101,000 after buying an additional 265 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Carbonite by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 48,953 shares of the technology company’s stock worth $994,000 after buying an additional 581 shares during the period. Alliancebernstein L.P. raised its stake in shares of Carbonite by 4.9% in the first 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 period. American International Group Inc. raised its stake in shares of Carbonite by 7.1% in the first 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 period. Finally, Geneva Advisors LLC raised its stake in shares of Carbonite by 3.8% in the second quarter. Geneva Advisors LLC now owns 43,970 shares of the technology company’s stock worth $959,000 after buying an additional 1,611 shares during the period. 94.24% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. B. Riley restated a “buy” rating and issued a $26.00 price objective on shares of Carbonite in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Carbonite from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. TheStreet upgraded shares of Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. Finally, Barclays PLC restated an “equal weight” rating and issued a $27.00 price objective (up from $26.00) on shares of Carbonite in a research report on Friday, August 4th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $24.43.
Carbonite Company 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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