Nokomis Capital L.l.c. Lowers stake in Carbonite Inc (CARB)

Carbonite Inc (CARB) : Nokomis Capital L.l.c. reduced its stake in Carbonite Inc by 8.6% during the most recent quarter end. The investment management company now holds a total of 1,473,077 shares of Carbonite Inc which is valued at $27,251,925 after selling 138,518 shares in Carbonite Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Carbonite Inc makes up approximately 6.24% of Nokomis Capital L.l.c.’s portfolio.

Other Hedge Funds, Including , Alphaone Investment Services added CARB to its portfolio by purchasing 16,150 company shares during the most recent quarter which is valued at $298,775. Carbonite Inc makes up approx 0.10% of Alphaone Investment Services’s portfolio.Emerald Acquisition Ltd. boosted its stake in CARB in the latest quarter, The investment management firm added 225,207 additional shares and now holds a total of 303,547 shares of Carbonite Inc which is valued at $5,205,831. Carbonite Inc makes up approx 0.01% of Emerald Acquisition Ltd.’s portfolio.Tiaa Cref Investment Management reduced its stake in CARB by selling 1,000 shares or 1.32% in the most recent quarter. The Hedge Fund company now holds 74,799 shares of CARB which is valued at $1,286,543.Blackrock Fund Advisors boosted its stake in CARB in the latest quarter, The investment management firm added 17,307 additional shares and now holds a total of 490,207 shares of Carbonite Inc which is valued at $8,431,560.Blackrock Institutional Trust Company N.a. boosted its stake in CARB in the latest quarter, The investment management firm added 274,992 additional shares and now holds a total of 472,113 shares of Carbonite Inc which is valued at $8,120,344.

Carbonite Inc opened for trading at $18.9 and hit $19.5 on the upside on Monday, eventually ending the session at $19.3, with a gain of 1.58% or 0.3 points. The heightened volatility saw the trading volume jump to 5,35,664 shares. Company has a market cap of $526 M.

On the company’s financial health, Carbonite Inc reported $0.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.07. The company had revenue of $51.90 million for the quarter, compared to analysts expectations of $46.79 million. The company’s revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on Carbonite Inc. Carbonite Inc was Upgraded by Oppenheimer to ” Outperform” on Oct 11, 2016.

Carbonite Inc. (Carbonite) provides cloud and hybrid backup solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses (SMBs) and individuals. The Company’s suite of solutions includes Carbonite Personal which include unlimited cloud backup for one computer at three different service levels for individuals; Carbonite Pro the Company’s small business workstation solutions automatically back up files to the cloud and include an unlimited number of devices for an annual flat fee based on the amount of storage needed and Carbonite Server Backup the Company’s hybrid server backup solution that protects an unlimited number of servers databases and live applications and offers management capabilities. As of December 31 2014 the Company had subscribers in over 100 countries with subscribers based in the United States representing approximately 94% of its total revenue.

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