Arrowstreet Capital Limited Partnership grew its stake in Carbonite, Inc. (NASDAQ:CARB) by 13.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,867 shares of the technology company’s stock after purchasing an additional 21,300 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.65% of Carbonite worth $3,965,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Legal & General Group Plc lifted its stake 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 last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Carbonite by 1.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 48,953 shares of the technology company’s stock valued at $994,000 after purchasing an additional 581 shares during the last quarter. Alliancebernstein L.P. lifted its stake 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 last quarter. American International Group Inc. lifted its stake 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 last quarter. Finally, Quantbot Technologies LP lifted its stake in shares of Carbonite by 17.2% in the 2nd quarter. Quantbot Technologies LP now owns 5,449 shares of the technology company’s stock valued at $118,000 after purchasing an additional 800 shares during the last quarter. 96.08% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on CARB shares. B. Riley reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Carbonite in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Carbonite in a research note on Thursday, September 21st. Rosenblatt Securities started coverage on Carbonite in a research note on Monday, September 18th. They issued a “buy” rating and a $28.00 price objective for the company. TheStreet raised Carbonite from a “d+” rating to a “c+” rating in a research note on Friday, August 4th. Finally, Barclays PLC started coverage on Carbonite in a research note on Monday, June 26th. They issued an “equal weight” rating and a $26.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $27.71.

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Shares of Carbonite, Inc. (NASDAQ:CARB) opened at 22.30 on Tuesday. Carbonite, Inc. has a 52 week low of $14.10 and a 52 week high of $24.60. The company’s 50 day moving average price is $20.94 and its 200-day moving average price is $20.94. The company has a market capitalization of $619.92 million, a price-to-earnings ratio of 1061.90 and a beta of 0.27.

Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Carbonite had a return on equity of 36.43% and a net margin of 0.29%. The firm had revenue of $59.00 million for the quarter, compared to analysts’ expectations of $59.97 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. Analysts anticipate that Carbonite, Inc. will post $0.76 earnings per share for the current fiscal year.

In related news, VP Danielle Sheer sold 4,810 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $21.65, for a total value of $104,136.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cassandra Hudson sold 1,563 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $22.05, for a total value of $34,464.15. The disclosure for this sale can be found here. Insiders sold 30,421 shares of company stock worth $641,877 over the last quarter. 12.20% of the stock is currently owned by insiders.

Carbonite 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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Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

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