Carbonite Inc. (NASDAQ:CARB) Director David Friend sold 280,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $18.33, for a total value of $5,132,400.00. Following the transaction, the director now directly owns 1,027,303 shares in the company, valued at $18,830,463.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Carbonite Inc. (NASDAQ:CARB) traded up 1.58% during midday trading on Friday, reaching $19.30. The company’s stock had a trading volume of 535,662 shares. Carbonite Inc. has a 52 week low of $6.50 and a 52 week high of $19.50. The stock has a 50 day moving average of $16.48 and a 200 day moving average of $12.58. The firm’s market capitalization is $521.87 million.

Carbonite (NASDAQ:CARB) last issued its earnings results on Thursday, November 3rd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07. Carbonite had a negative return on equity of 699.63% and a negative net margin of 4.26%. The company had revenue of $51.90 million for the quarter, compared to analyst estimates of $15.93 million. During the same period in the prior year, the firm posted $0.08 EPS. The business’s revenue was up 50.0% compared to the same quarter last year. On average, equities research analysts predict that Carbonite Inc. will post $0.57 earnings per share for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of CARB. Blair William & Co. IL raised its position 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 during the last quarter. Royal Bank of Canada purchased a new position in shares of Carbonite during the second quarter valued at $102,000. Citadel Advisors LLC purchased a new position in shares of Carbonite during the second quarter valued at $103,000. Glenmede Trust Co. NA purchased a new position in shares of Carbonite during the second quarter valued at $109,000. Finally, BlackRock Group LTD purchased a new position in shares of Carbonite during the third quarter valued at $113,000. 73.61% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on the company. TheStreet raised Carbonite from a “sell” rating to a “hold” rating in a research report on Friday, November 4th. Zacks Investment Research raised Carbonite from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, November 9th. B. Riley reissued a “buy” rating and set a $21.00 price target on shares of Carbonite in a research report on Thursday, November 10th. Finally, Oppenheimer Holdings Inc. raised Carbonite from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Tuesday, October 11th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Carbonite currently has an average rating of “Buy” and an average price target of $18.25.

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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