Townsquare Capital LLC Raises Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Townsquare Capital LLC lifted its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,185 shares of the software maker’s stock after purchasing an additional 5,420 shares during the quarter. Townsquare Capital LLC owned about 0.10% of Commvault Systems worth $6,517,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. HighTower Advisors LLC increased its stake in Commvault Systems by 478.1% in the 3rd quarter. HighTower Advisors LLC now owns 13,238 shares of the software maker’s stock valued at $2,032,000 after purchasing an additional 10,948 shares in the last quarter. Stifel Financial Corp grew its holdings in Commvault Systems by 27.2% in the third quarter. Stifel Financial Corp now owns 6,753 shares of the software maker’s stock valued at $1,039,000 after purchasing an additional 1,445 shares during the last quarter. TD Private Client Wealth LLC purchased a new position in shares of Commvault Systems in the third quarter valued at $105,000. Virtu Financial LLC purchased a new position in shares of Commvault Systems in the third quarter valued at $774,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Commvault Systems during the 3rd quarter worth $392,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CVLT. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Piper Sandler lowered their price target on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. KeyCorp raised their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Cantor Fitzgerald boosted their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and an average price target of $159.11.

Insider Activity at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s 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 in the company, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $152.49 on Monday. The firm’s 50-day simple moving average is $164.54 and its 200-day simple moving average is $161.71. Commvault Systems, Inc. has a 1 year low of $93.48 and a 1 year high of $190.11. The firm has a market cap of $6.71 billion, a PE ratio of 40.02 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.