California Public Employees Retirement System Raises Position in Carbonite, Inc. (CARB)

California Public Employees Retirement System increased its position in Carbonite, Inc. (NASDAQ:CARB) by 17.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,400 shares of the technology company’s stock after buying an additional 12,600 shares during the quarter. California Public Employees Retirement System owned about 0.30% of Carbonite worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CARB. Legal & General Group Plc raised its position 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 worth $101,000 after buying an additional 265 shares during the period. American International Group Inc. raised its position 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 worth $222,000 after buying an additional 728 shares during the period. UBS Asset Management Americas Inc. purchased a new position in shares of Carbonite in the 2nd quarter worth $251,000. Alliancebernstein L.P. raised its position 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 worth $261,000 after buying an additional 600 shares during the period. Finally, AlphaOne Investment Services LLC purchased a new position in shares of Carbonite in the 2nd quarter worth $272,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.

CARB has been the topic of several research reports. BidaskClub raised Carbonite from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Rosenblatt Securities initiated coverage on Carbonite in a research report on Monday, September 18th. They issued a “buy” rating and a $28.00 target price on the stock. TheStreet raised Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. JMP Securities initiated coverage on Carbonite in a research report on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $27.00 target price (up from $26.00) on shares of Carbonite in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $27.71.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another site, it was illegally copied and republished in violation of international trademark and copyright laws. The correct version of this news story can be read at https://www.com-unik.info/2017/11/04/california-public-employees-retirement-system-raises-position-in-carbonite-inc-carb.html.

In other Carbonite news, CFO Anthony Folger sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $20.59, for a total value of $154,425.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Danielle Sheer sold 4,810 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $21.65, for a total value of $104,136.50. The disclosure for this sale can be found here. Insiders sold 30,421 shares of company stock worth $641,877 over the last three months. 12.20% of the stock is currently owned by corporate insiders.

Carbonite, Inc. (NASDAQ:CARB) opened at $24.00 on Friday. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $617.14 million, a P/E ratio of 92.50, a PEG ratio of 2.43 and a beta of 0.33.

Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. Carbonite had a positive return on equity of 41.90% and a negative net margin of 1.32%. The company had revenue of $61.60 million for the quarter, compared to analyst estimates of $61.49 million. During the same period last year, the company posted $0.14 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. analysts anticipate that Carbonite, Inc. will post 0.37 EPS for the current fiscal year.

Carbonite Company 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.

Want to see what other hedge funds are holding CARB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carbonite, Inc. (NASDAQ:CARB).

Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

What are top analysts saying about Carbonite Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Carbonite Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit