Martingale Asset Management L P Trims Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Martingale Asset Management L P reduced its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,827 shares of the software maker’s stock after selling 997 shares during the quarter. Martingale Asset Management L P owned about 0.05% of Commvault Systems worth $3,445,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TFC Financial Management Inc. increased its stake in shares of Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in Commvault Systems in the 3rd quarter worth about $105,000. Blue Trust Inc. increased its position in shares of Commvault Systems by 37,400.0% during the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock worth $113,000 after acquiring an additional 748 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Commvault Systems during the fourth quarter worth approximately $127,000. Finally, GAMMA Investing LLC increased its holdings in Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after buying an additional 121 shares during the period. 93.50% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Gary Merrill sold 3,287 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction dated 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 of the company’s stock, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald lifted their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. KeyCorp upped their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Piper Sandler cut their target price on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Commvault Systems has a consensus rating of “Moderate Buy” and an average target price of $159.11.

Commvault Systems Stock Up 12.2 %

CVLT opened at $157.72 on Thursday. Commvault Systems, Inc. has a 52-week low of $93.48 and a 52-week high of $190.11. The company has a 50 day moving average of $165.00 and a two-hundred day moving average of $161.65. The company has a market cap of $6.94 billion, a P/E ratio of 41.40 and a beta of 0.68.

Commvault Systems 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.