Northern Trust Corp Has $7.34 Million Holdings in Carbonite, Inc. (CARB)
Northern Trust Corp grew its holdings in shares of Carbonite, Inc. (NASDAQ:CARB) by 53.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 336,735 shares of the technology company’s stock after buying an additional 117,319 shares during the quarter. Northern Trust Corp owned approximately 1.22% of Carbonite worth $7,341,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Legal & General Group Plc raised its holdings in shares of Carbonite by 5.5% in the 1st quarter. Legal & General Group Plc now owns 5,050 shares of the technology company’s stock valued at $101,000 after purchasing an additional 265 shares during the period. American International Group Inc. raised its holdings in shares of Carbonite by 7.1% in the 1st quarter. American International Group Inc. now owns 10,951 shares of the technology company’s stock valued at $222,000 after purchasing an additional 728 shares during the period. UBS Asset Management Americas Inc. bought a new stake in shares of Carbonite in the 2nd quarter valued at about $251,000. Alliancebernstein L.P. raised its holdings in shares of Carbonite by 4.9% in the 1st quarter. Alliancebernstein L.P. now owns 12,850 shares of the technology company’s stock valued at $261,000 after purchasing an additional 600 shares during the period. Finally, V Wealth Management LLC bought a new stake in shares of Carbonite in the 2nd quarter valued at about $275,000. 96.85% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on CARB. B. Riley reaffirmed a “buy” rating and issued a $26.00 target price on shares of Carbonite in a report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $30.00 target price on shares of Carbonite in a report on Thursday, September 21st. Barclays PLC reaffirmed an “equal weight” rating and issued a $27.00 target price (up from $26.00) on shares of Carbonite in a report on Friday, August 4th. JMP Securities began coverage on shares of Carbonite in a report on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, TheStreet raised shares of Carbonite from a “d+” rating to a “c+” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $27.71.
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Carbonite, Inc. (NASDAQ:CARB) opened at $22.30 on Friday. Carbonite, Inc. has a 52 week low of $15.04 and a 52 week high of $27.00. The company has a market cap of $623.22, a PE ratio of 92.92, a P/E/G ratio of 2.30 and a beta of 0.33. The company has a quick ratio of 1.21, a current ratio of 1.12 and a debt-to-equity ratio of 3.12.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.04. Carbonite had a negative net margin of 1.32% and a positive return on equity of 32.85%. The business had revenue of $61.60 million for the quarter, compared to analyst estimates of $61.49 million. During the same quarter in the prior year, the business earned $0.14 EPS. Carbonite’s quarterly revenue was up 18.7% on a year-over-year basis. equities analysts forecast that Carbonite, Inc. will post 0.39 earnings per share for the current year.
In related news, General Counsel Danielle Sheer sold 4,807 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $22.31, for a total value of $107,244.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Anthony Folger sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $20.59, for a total transaction of $154,425.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,937 shares of company stock worth $626,011. 12.20% of the stock is owned by company insiders.
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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