Assenagon Asset Management S.A. decreased its stake in Carbonite Inc (NASDAQ:CARB) by 65.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,809 shares of the technology company’s stock after selling 24,341 shares during the period. Assenagon Asset Management S.A.’s holdings in Carbonite were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake in shares of Carbonite by 73.2% in the fourth quarter. Advisors Asset Management Inc. now owns 3,147 shares of the technology company’s stock valued at $79,000 after buying an additional 1,330 shares during the period. Advisor Group Inc. increased its stake in shares of Carbonite by 21.7% in the fourth quarter. Advisor Group Inc. now owns 3,195 shares of the technology company’s stock valued at $82,000 after buying an additional 570 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Carbonite by 97.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 4,143 shares of the technology company’s stock valued at $101,000 after buying an additional 2,043 shares during the period. Legal & General Group Plc increased its stake in shares of Carbonite by 17.8% in the third quarter. Legal & General Group Plc now owns 4,998 shares of the technology company’s stock valued at $178,000 after buying an additional 756 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Carbonite by 222.3% in the third quarter. Jane Street Group LLC now owns 6,665 shares of the technology company’s stock valued at $238,000 after buying an additional 12,116 shares during the period.
Several equities research analysts have recently weighed in on the company. Stifel Nicolaus cut Carbonite from a “buy” rating to a “hold” rating and decreased their price target for the company from $44.00 to $25.00 in a research note on Friday, February 8th. Lake Street Capital increased their price target on Carbonite to $39.00 and gave the company a “buy” rating in a research note on Friday, February 8th. Zacks Investment Research cut Carbonite from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. B. Riley set a $42.00 price target on Carbonite and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Craig Hallum set a $43.00 price target on Carbonite and gave the company a “buy” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $37.83.
Carbonite (NASDAQ:CARB) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.26 by $0.18. Carbonite had a positive return on equity of 23.68% and a negative net margin of 0.76%. The company had revenue of $81.20 million for the quarter, compared to analyst estimates of $77.36 million. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. Equities research analysts expect that Carbonite Inc will post 1.3 earnings per share for the current fiscal year.
In related news, SVP Norman Guadagno sold 4,293 shares of the company’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $24.44, for a total transaction of $104,920.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Danielle Sheer sold 1,176 shares of the stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $24.08, for a total value of $28,318.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,336 shares of company stock worth $1,184,126. 8.00% of the stock is owned by corporate insiders.
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Carbonite Company Profile
Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe, a cloud backup solution for individuals and businesses that protects customer data from accidental deletions, crashes, ransomware, viruses, and other common threats; and Carbonite Endpoint that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.
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