BidaskClub downgraded shares of Carbonite (NASDAQ:CARB) from a buy rating to a hold rating in a research report sent to investors on Thursday.
Several other equities research analysts also recently weighed in on CARB. Oppenheimer restated a buy rating and issued a $30.00 target price on shares of Carbonite in a research note on Thursday, September 21st. JMP Securities assumed coverage on shares of Carbonite in a research note on Tuesday, October 17th. They set an outperform rating and a $30.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $27.71.
Shares of Carbonite (NASDAQ:CARB) traded down $0.25 on Thursday, reaching $25.75. 173,483 shares of the company’s stock traded hands, compared to its average volume of 184,246. The firm has a market capitalization of $719.64, a P/E ratio of -214.58, a price-to-earnings-growth ratio of 2.08 and a beta of 0.37. Carbonite has a 52 week low of $15.90 and a 52 week high of $27.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 3.12.
In related news, Director Todd Krasnow sold 10,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $23.16, for a total transaction of $231,600.00. Following the completion of the transaction, the director now directly owns 227,230 shares in the company, valued at $5,262,646.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul S. Mellinger sold 7,500 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $22.10, for a total transaction of $165,750.00. The disclosure for this sale can be found here. Insiders have sold 41,716 shares of company stock valued at $961,860 over the last quarter. Insiders own 12.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP lifted its position in Carbonite by 17.2% during the second 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 period. Legal & General Group Plc lifted its position in Carbonite by 19.5% during the second quarter. Legal & General Group Plc now owns 6,035 shares of the technology company’s stock valued at $132,000 after purchasing an additional 985 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Carbonite by 167.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 7,370 shares of the technology company’s stock valued at $162,000 after purchasing an additional 4,612 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Carbonite during the second quarter valued at $231,000. Finally, Voya Investment Management LLC acquired a new position in Carbonite during the second quarter valued at $236,000. Institutional investors own 94.21% of the company’s stock.
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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