Geode Capital Management LLC Raises Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Geode Capital Management LLC increased its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,288,068 shares of the software maker’s stock after buying an additional 43,088 shares during the period. Geode Capital Management LLC’s holdings in Commvault Systems were worth $194,681,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. TFC Financial Management Inc. lifted its position in shares of Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after buying an additional 300 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Commvault Systems in the 3rd quarter valued at about $71,000. TD Private Client Wealth LLC acquired a new stake in Commvault Systems in the 3rd quarter worth about $105,000. Blue Trust Inc. increased its stake in Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock worth $113,000 after buying an additional 748 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Commvault Systems during the fourth quarter valued at approximately $127,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Commvault Systems

In other Commvault Systems news, 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 value of $614,471.78. Following the completion of 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 through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the sale, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Cantor Fitzgerald boosted their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research 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. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Finally, KeyCorp upped their price target on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $139.35 on Monday. The stock has a 50 day moving average of $165.87 and a 200 day moving average of $161.97. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 36.57 and a beta of 0.68. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11.

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.