Carbonite, Inc. (CARB) SVP Paul S. Mellinger Sells 1,940 Shares

Carbonite, Inc. (NASDAQ:CARB) SVP Paul S. Mellinger sold 1,940 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $25.80, for a total transaction of $50,052.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Paul S. Mellinger also recently made the following trade(s):

  • On Thursday, November 9th, Paul S. Mellinger sold 7,500 shares of Carbonite stock. The stock was sold at an average price of $22.10, for a total transaction of $165,750.00.

Carbonite, Inc. (NASDAQ CARB) traded down $0.95 during mid-day trading on Friday, hitting $23.60. 294,693 shares of the company traded hands, compared to its average volume of 191,961. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $704.27 and a PE ratio of -215.00. Carbonite, Inc. has a twelve month low of $18.10 and a twelve month high of $27.00.

Carbonite (NASDAQ:CARB) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. The business had revenue of $61.60 million during the quarter, compared to analysts’ expectations of $61.49 million. Carbonite had a negative net margin of 1.32% and a positive return on equity of 32.85%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. analysts predict that Carbonite, Inc. will post 0.39 EPS for the current fiscal year.

Several brokerages have commented on CARB. BidaskClub upgraded shares of Carbonite from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. JMP Securities began coverage on shares of Carbonite in a report on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 target price for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $27.71.

Several hedge funds have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. acquired a new stake in shares of Carbonite during the fourth quarter worth approximately $167,000. Pembroke Management LTD boosted its holdings in shares of Carbonite by 0.4% during the fourth quarter. Pembroke Management LTD now owns 1,250,153 shares of the technology company’s stock worth $31,378,000 after purchasing an additional 4,400 shares during the period. Boston Advisors LLC acquired a new stake in shares of Carbonite during the fourth quarter worth approximately $1,054,000. Rice Hall James & Associates LLC boosted its holdings in shares of Carbonite by 100.4% during the fourth quarter. Rice Hall James & Associates LLC now owns 95,955 shares of the technology company’s stock worth $2,408,000 after purchasing an additional 48,072 shares during the period. Finally, Summit Creek Advisors LLC boosted its holdings in shares of Carbonite by 10.1% during the fourth quarter. Summit Creek Advisors LLC now owns 613,577 shares of the technology company’s stock worth $15,401,000 after purchasing an additional 56,285 shares during the period. Institutional investors and hedge funds own 93.75% of the company’s stock.

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Carbonite Company 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.

Insider Buying and Selling by Quarter for Carbonite (NASDAQ:CARB)

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