Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 12,318 Shares

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the transaction, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Commvault Systems Trading Down 7.7 %

Shares of CVLT stock opened at $170.61 on Friday. The company’s fifty day simple moving average is $163.97 and its 200-day simple moving average is $158.89. Commvault Systems, Inc. has a 52 week low of $92.36 and a 52 week high of $190.11. The company has a market cap of $7.51 billion, a PE ratio of 44.78 and a beta of 0.65.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently made changes to their positions in the business. Creative Planning increased its stake in Commvault Systems by 66.0% during the 3rd quarter. Creative Planning now owns 12,150 shares of the software maker’s stock worth $1,869,000 after buying an additional 4,829 shares during the period. Raymond James & Associates increased its stake in Commvault Systems by 58.1% during the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock worth $2,371,000 after buying an additional 5,661 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Commvault Systems by 365.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 91,869 shares of the software maker’s stock worth $14,134,000 after buying an additional 72,146 shares during the period. Signaturefd LLC increased its stake in Commvault Systems by 43.9% during the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after buying an additional 180 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Commvault Systems during the 3rd quarter worth $4,142,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Oppenheimer assumed coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. StockNews.com lowered shares of Commvault Systems from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Cantor Fitzgerald lifted their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $156.44.

Commvault Systems Company Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.