Carbonite, Inc. (NASDAQ:CARB) Shares Bought by Pembroke Management LTD

Pembroke Management LTD boosted its stake in shares of Carbonite, Inc. (NASDAQ:CARB) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,250,153 shares of the technology company’s stock after purchasing an additional 4,400 shares during the period. Carbonite makes up about 3.2% of Pembroke Management LTD’s portfolio, making the stock its 5th biggest position. Pembroke Management LTD owned approximately 4.47% of Carbonite worth $31,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CARB. Quantbot Technologies LP raised its position in shares of Carbonite by 17.2% in the second quarter. Quantbot Technologies LP now owns 5,449 shares of the technology company’s stock valued at $118,000 after buying an additional 800 shares during the last quarter. Legal & General Group Plc increased 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 worth $132,000 after purchasing an additional 985 shares during the last quarter. Brown Advisory Inc. boosted its stake in Carbonite by 24.4% during the third quarter. Brown Advisory Inc. now owns 15,614 shares of the technology company’s stock worth $344,000 after buying an additional 3,065 shares during the period. Nationwide Fund Advisors boosted its stake in Carbonite by 29.8% during the second quarter. Nationwide Fund Advisors now owns 14,138 shares of the technology company’s stock worth $308,000 after buying an additional 3,250 shares during the period. Finally, Cadence Capital Management LLC boosted its stake in Carbonite by 5.1% during the third quarter. Cadence Capital Management LLC now owns 73,109 shares of the technology company’s stock worth $1,608,000 after buying an additional 3,553 shares during the period. 92.56% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Paul S. Mellinger sold 1,940 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $25.80, for a total transaction of $50,052.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Anthony Folger sold 7,992 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $23.45, for a total value of $187,412.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,096 shares of company stock valued at $1,517,037. Company insiders own 12.20% of the company’s stock.

Several research analysts have recently commented on the stock. Lake Street Capital reissued a “buy” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Carbonite in a research note on Wednesday. B. Riley raised their target price on shares of Carbonite from $30.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday. TheStreet cut shares of Carbonite from a “c+” rating to a “d” rating in a report on Tuesday. Finally, BidaskClub cut shares of Carbonite from a “hold” rating to a “sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $29.86.

Shares of Carbonite, Inc. (CARB) traded up $4.82 during midday trading on Thursday, hitting $26.52. 1,717,700 shares of the company’s stock traded hands, compared to its average volume of 283,996. Carbonite, Inc. has a 52 week low of $18.20 and a 52 week high of $28.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 3.12. The stock has a market cap of $606.46, a price-to-earnings ratio of -177.65, a P/E/G ratio of 1.74 and a beta of 0.33.

Carbonite (NASDAQ:CARB) last announced its earnings results on Tuesday, February 13th. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. Carbonite had a negative net margin of 1.67% and a positive return on equity of 42.21%. The firm had revenue of $61.69 million during the quarter, compared to the consensus estimate of $63.72 million. equities research analysts forecast that Carbonite, Inc. will post 0.5 earnings per share for the current year.

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Carbonite 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.

Institutional Ownership by Quarter for Carbonite (NASDAQ:CARB)

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