Cubist Systematic Strategies LLC acquired a new stake in shares of Carbonite, Inc. (NASDAQ:CARB) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,583 shares of the technology company’s stock, valued at approximately $231,000.

Other large investors also recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Carbonite by 5.5% during the 1st quarter. Legal & General Group Plc now owns 5,050 shares of the technology company’s stock worth $101,000 after purchasing an additional 265 shares during the period. Quantbot Technologies LP raised its stake in shares of Carbonite by 17.2% during the 2nd quarter. Quantbot Technologies LP now owns 5,449 shares of the technology company’s stock worth $118,000 after purchasing an additional 800 shares during the period. American International Group Inc. raised its stake in shares of Carbonite by 7.1% during the 1st quarter. American International Group Inc. now owns 10,951 shares of the technology company’s stock worth $222,000 after purchasing an additional 728 shares during the period. Voya Investment Management LLC bought a new stake in shares of Carbonite during the 2nd quarter worth $236,000. Finally, Stifel Financial Corp bought a new stake in shares of Carbonite during the 1st quarter worth $251,000. Institutional investors and hedge funds own 97.31% of the company’s stock.

In other Carbonite news, insider Cassandra Hudson sold 1,563 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $22.05, for a total value of $34,464.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony Folger sold 12,500 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $21.19, for a total value of $264,875.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,421 shares of company stock valued at $641,877. Company insiders own 12.20% of the company’s stock.

Carbonite (NASDAQ:CARB) last posted its earnings results 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 the consensus estimate of $59.97 million. During the same quarter in the prior year, the company earned $0.19 earnings per share. Carbonite’s revenue was up 10.5% on a year-over-year basis.

WARNING: “Cubist Systematic Strategies LLC Invests $231,000 in Carbonite, Inc. (CARB) Stock” was published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The original version of this news story can be accessed at https://theolympiareport.com/2017/11/02/cubist-systematic-strategies-llc-invests-231000-in-carbonite-inc-carb-stock.html.

A number of research firms have recently commented on CARB. B. Riley reiterated a “buy” rating and set a $26.00 target price on shares of Carbonite in a research note on Monday, August 7th. Barclays PLC reiterated an “equal weight” rating and set a $27.00 target price (up from $26.00) on shares of Carbonite in a research note on Friday, August 4th. BidaskClub raised Carbonite from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Rosenblatt Securities started coverage on Carbonite in a report on Monday, September 18th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, TheStreet raised Carbonite from a “d+” rating to a “c+” rating in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $27.71.

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.

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)

Receive News & Ratings for Carbonite Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.