Commvault Systems, Inc. (NASDAQ:CVLT – Get Free Report) insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the transaction, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Commvault Systems Trading Down 7.7 %
CVLT opened at $170.61 on Friday. Commvault Systems, Inc. has a 1-year low of $92.36 and a 1-year high of $190.11. The company has a market cap of $7.51 billion, a P/E ratio of 44.78 and a beta of 0.65. The company has a fifty day moving average price of $164.01 and a two-hundred day moving average price of $159.26.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Commvault Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Oppenheimer assumed coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. Cantor Fitzgerald lifted their target price 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. KeyCorp lifted their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Commvault Systems currently has a consensus rating of “Hold” and a consensus price target of $156.44.
Institutional Investors Weigh In On Commvault Systems
Several hedge funds and other institutional investors have recently bought and sold shares of CVLT. Invesco Ltd. increased its stake in Commvault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock valued at $250,527,000 after purchasing an additional 607,643 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock valued at $98,479,000 after purchasing an additional 555,656 shares in the last quarter. Norges Bank bought a new stake in Commvault Systems in the fourth quarter valued at $79,619,000. Summit Partners Public Asset Management LLC acquired a new position in shares of Commvault Systems during the third quarter valued at about $67,722,000. Finally, Polar Capital Holdings Plc grew its holdings in shares of Commvault Systems by 182.5% during the fourth quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker’s stock valued at $54,774,000 after buying an additional 234,477 shares during the last quarter. 93.50% of the stock is owned by institutional investors.
About Commvault Systems
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.
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