Divisar Capital Management LLC Sells 188,697 Shares of Carbonite, Inc. (CARB)
Divisar Capital Management LLC trimmed its position in Carbonite, Inc. (NASDAQ:CARB) by 42.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 256,932 shares of the technology company’s stock after selling 188,697 shares during the period. Carbonite comprises 2.6% of Divisar Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Divisar Capital Management LLC owned about 0.92% of Carbonite worth $5,601,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in CARB. Aperio Group LLC raised its stake in shares of Carbonite by 29.5% in the second quarter. Aperio Group LLC now owns 19,423 shares of the technology company’s stock worth $423,000 after buying an additional 4,421 shares during the period. Redwood Investments LLC purchased a new position in shares of Carbonite during the 2nd quarter valued at about $4,391,000. NorthCoast Asset Management LLC purchased a new position in shares of Carbonite during the 1st quarter valued at about $750,000. Highbridge Capital Management LLC purchased a new position in shares of Carbonite during the 1st quarter valued at about $436,000. Finally, Old Mutual Global Investors UK Ltd. lifted its position in shares of Carbonite by 29.5% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 37,078 shares of the technology company’s stock valued at $808,000 after buying an additional 8,445 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on CARB shares. B. Riley reissued a “buy” rating and issued a $26.00 target price on shares of Carbonite in a report on Monday, August 7th. Barclays PLC reissued an “equal weight” rating and issued a $27.00 price objective (up from $26.00) on shares of Carbonite in a research note on Friday, August 4th. BidaskClub upgraded shares of Carbonite from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Rosenblatt Securities started coverage on shares of Carbonite in a research note on Monday, September 18th. They set a “buy” rating and a $28.00 target price on the stock. Finally, TheStreet upgraded shares of Carbonite from a “d+” rating to a “c+” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.88.
In related news, CFO Anthony Folger sold 12,500 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $21.19, for a total transaction of $264,875.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cassandra Hudson sold 1,563 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $22.05, for a total transaction of $34,464.15. The disclosure for this sale can be found here. Insiders sold 30,421 shares of company stock valued at $641,877 over the last quarter. Company insiders own 12.20% of the company’s stock.
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Shares of Carbonite, Inc. (NASDAQ CARB) traded up 0.90% on Wednesday, hitting $22.30. The stock had a trading volume of 178,619 shares. The firm’s 50-day moving average price is $20.25 and its 200 day moving average price is $20.78. Carbonite, Inc. has a 12 month low of $14.10 and a 12 month high of $24.60. The firm has a market cap of $619.92 million, a P/E ratio of 1061.90 and a beta of 0.27.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.15 earnings per share 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 company had revenue of $59.00 million for the quarter, compared to analyst estimates of $59.97 million. During the same quarter last year, the firm posted $0.19 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts anticipate that Carbonite, Inc. will post $0.76 EPS for the current fiscal year.
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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