Carbonite, Inc. (CARB) Stake Increased by B. Riley Financial Inc.
B. Riley Financial Inc. lifted its holdings in Carbonite, Inc. (NASDAQ:CARB) by 126.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,752 shares of the technology company’s stock after purchasing an additional 35,082 shares during the quarter. B. Riley Financial Inc. owned about 0.22% of Carbonite worth $1,386,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of CARB. Renaissance Technologies LLC lifted its position in Carbonite by 6.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,317,700 shares of the technology company’s stock worth $50,526,000 after acquiring an additional 131,300 shares during the period. Vanguard Group Inc. lifted its position in Carbonite by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,686,093 shares of the technology company’s stock worth $36,757,000 after acquiring an additional 217,337 shares during the period. Crosslink Capital Inc. lifted its position in Carbonite by 7.2% during the 2nd quarter. Crosslink Capital Inc. now owns 1,312,983 shares of the technology company’s stock worth $28,623,000 after acquiring an additional 87,900 shares during the period. Dimensional Fund Advisors LP lifted its position in Carbonite by 4.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,103,160 shares of the technology company’s stock worth $24,270,000 after acquiring an additional 46,260 shares during the period. Finally, Hood River Capital Management LLC lifted its position in Carbonite by 132.3% during the 2nd quarter. Hood River Capital Management LLC now owns 783,723 shares of the technology company’s stock worth $17,085,000 after acquiring an additional 446,308 shares during the period. 94.61% of the stock is owned by hedge funds and other institutional investors.
Carbonite, Inc. (NASDAQ:CARB) opened at $22.90 on Tuesday. The firm has a market capitalization of $660.95, a PE ratio of 98.54, a price-to-earnings-growth ratio of 2.40 and a beta of 0.38. Carbonite, Inc. has a 52 week low of $15.04 and a 52 week high of $27.00. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.12 and a current ratio of 1.12.
In related news, insider Cassandra Hudson sold 1,563 shares of Carbonite stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $22.05, for a total value of $34,464.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anthony Folger sold 7,500 shares of Carbonite stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $20.59, for a total value of $154,425.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,936 shares of company stock valued at $630,975. 12.20% of the stock is owned by company insiders.
A number of analysts have commented on CARB shares. Oppenheimer reaffirmed a “buy” rating and set a $30.00 price target on shares of Carbonite in a research report on Thursday, September 21st. JMP Securities began coverage on Carbonite in a research report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 price target for the company. BidaskClub lowered Carbonite from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Rosenblatt Securities began coverage on Carbonite in a research note on Monday, September 18th. They set a “buy” rating and a $28.00 price objective for the company. Finally, B. Riley reiterated a “buy” rating and set a $26.00 price objective on shares of Carbonite in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Carbonite presently has an average rating of “Buy” and an average target price of $27.71.
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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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