Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sells $2,290,655.28 in Stock

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

Commvault Systems Stock Down 7.7 %

NASDAQ:CVLT opened at $170.61 on Monday. Commvault Systems, Inc. has a 12-month low of $92.36 and a 12-month high of $190.11. The firm has a market capitalization of $7.51 billion, a P/E ratio of 44.78 and a beta of 0.65. The stock’s fifty day simple moving average is $164.01 and its 200-day simple moving average is $159.38.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVLT. KeyCorp raised their price target on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com lowered Commvault Systems from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Finally, Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $156.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP boosted its position in shares of Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Commvault Systems in the 3rd quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Commvault Systems by 409.0% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock worth $51,000 after purchasing an additional 274 shares during the last quarter. TFC Financial Management Inc. boosted its position 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 during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Commvault Systems during the third quarter worth about $71,000. 93.50% of the stock is currently owned by institutional investors.

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.