Cubist Systematic Strategies LLC Invests $231,000 in Carbonite, Inc. (CARB) Stock
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.
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, 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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