Carbonite Inc. (NASDAQ:CARB) was upgraded by Oppenheimer Holdings Inc. from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday.

CARB has been the subject of several other research reports. Zacks Investment Research downgraded shares of Carbonite from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 4th. B. Riley started coverage on shares of Carbonite in a report on Tuesday, June 14th. They set a “buy” rating and a $15.00 price objective for the company.

Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.03 by $0.16. Carbonite had a negative net margin of 7.36% and a negative return on equity of 453.55%. The business earned $53.40 million during the quarter, compared to the consensus estimate of $44.19 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The business’s revenue was up 57.2% on a year-over-year basis.

In other news, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $13.23, for a total transaction of $79,380.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cassandra Hudson sold 13,158 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $12.62, for a total transaction of $166,053.96. Following the sale, the insider now owns 42,378 shares in the company, valued at $534,810.36. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its stake in shares of Carbonite by 1.6% in the second quarter. Rhumbline Advisers now owns 17,926 shares of the company’s stock valued at $174,000 after buying an additional 290 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Carbonite by 5.0% in the second quarter. Blair William & Co. IL now owns 10,500 shares of the company’s stock valued at $102,000 after buying an additional 500 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Carbonite by 3.0% in the second quarter. American Century Companies Inc. now owns 28,925 shares of the company’s stock valued at $281,000 after buying an additional 852 shares in the last quarter. Teton Advisors Inc. boosted its stake in shares of Carbonite by 1.3% in the second quarter. Teton Advisors Inc. now owns 75,687 shares of the company’s stock valued at $736,000 after buying an additional 1,000 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its stake in shares of Carbonite by 4.8% in the second quarter. Teachers Advisors Inc. now owns 31,520 shares of the company’s stock valued at $307,000 after buying an additional 1,453 shares in the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Carbonite Company Profile

Carbonite, Inc (Carbonite) is a provider of cloud and business continuity solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses and individuals. It offers various solutions, such as Carbonite Personal, Carbonite Pro, Carbonite Server Backup and MailStore.

5 Day Chart for NASDAQ:CARB

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