Harvest Fund Management Co. Ltd Sells 5,175 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Harvest Fund Management Co. Ltd lowered its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 49.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,225 shares of the software maker’s stock after selling 5,175 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Commvault Systems were worth $787,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CVLT. 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 valued at $61,000 after acquiring an additional 300 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Commvault Systems in the 3rd quarter valued at $71,000. TD Private Client Wealth LLC bought a new stake in shares of Commvault Systems in the 3rd quarter valued at $105,000. Blue Trust Inc. increased its stake in shares of Commvault Systems by 37,400.0% in the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock valued at $113,000 after acquiring an additional 748 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of Commvault Systems in the 3rd quarter valued at $126,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. KeyCorp lifted their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Cantor Fitzgerald upped their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems 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. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Price Performance

CVLT opened at $162.21 on Friday. The company’s 50-day moving average is $165.62 and its 200 day moving average is $160.69. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The firm has a market capitalization of $7.14 billion, a P/E ratio of 42.57 and a beta of 0.62.

Insider Activity at Commvault Systems

In related 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 transaction, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction dated 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 sale, the insider now directly owns 87,316 shares in the company, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.