The JPMorgan Chase & Co. Boosts Stake in Carbonite Inc. (CARB)

The JPMorgan Chase & Co. Boosts Stake in Carbonite Inc. (CARB)

JPMorgan Chase & Co. raised its position in Carbonite Inc. (NASDAQ:CARB) by 28.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,219 shares of the company’s stock after buying an additional 24,419 shares during the period. JPMorgan Chase & Co. owned 0.41% of Carbonite worth $1,062,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Carbonite by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 220,164 shares of the company’s stock worth $2,142,000 after buying an additional 5,694 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Carbonite during the second quarter worth $325,000. Menta Capital LLC raised its position in shares of Carbonite by 31.3% in the first quarter. Menta Capital LLC now owns 42,671 shares of the company’s stock worth $340,000 after buying an additional 10,176 shares in the last quarter. Teton Advisors Inc. raised its position in shares of Carbonite by 1.3% in the second quarter. Teton Advisors Inc. now owns 75,687 shares of the company’s stock worth $736,000 after buying an additional 1,000 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Carbonite during the second quarter worth $763,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

Carbonite Inc. (NASDAQ:CARB) traded up 0.18% during trading on Friday, hitting $16.82. 221,578 shares of the stock were exchanged. Carbonite Inc. has a 1-year low of $6.50 and a 1-year high of $17.56. The firm’s market capitalization is $454.81 million. The company has a 50-day moving average price of $15.34 and a 200 day moving average price of $11.63.

Carbonite (NASDAQ:CARB) last issued its earnings results on Tuesday, August 2nd. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.16. Carbonite had a negative return on equity of 453.55% and a negative net margin of 7.36%. The business earned $53.40 million during the quarter, compared to analyst estimates of $44.19 million. During the same quarter in the previous year, the firm earned ($0.01) EPS. Carbonite’s revenue was up 57.2% on a year-over-year basis. Equities analysts predict that Carbonite Inc. will post $0.50 earnings per share for the current fiscal year.

CARB has been the subject of a number of research reports. Zacks Investment Research lowered shares of Carbonite from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Oppenheimer Holdings Inc. upgraded shares of Carbonite from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Tuesday, October 11th. Finally, B. Riley restated a “buy” rating and issued a $17.00 price objective on shares of Carbonite in a research report on Wednesday, September 28th.

In other Carbonite news, VP Danielle Sheer sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $15.98, for a total value of $319,600.00. Following the completion of the transaction, the vice president now owns 114,532 shares of the company’s stock, valued at approximately $1,830,221.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cassandra Hudson sold 13,158 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $12.62, for a total value of $166,053.96. Following the completion of the transaction, the insider now directly owns 42,378 shares of the company’s stock, valued at approximately $534,810.36. The disclosure for this sale can be found here. 15.80% of the stock is owned by company insiders.

Carbonite Company Profile

Carbonite, Inc (Carbonite) is a provider of cloud and business continuity solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses and individuals. It offers various solutions, such as Carbonite Personal, Carbonite Pro, Carbonite Server Backup and MailStore.

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