Ontario Teachers Pension Plan Board Grows Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Ontario Teachers Pension Plan Board lifted its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 25.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,699 shares of the software maker’s stock after acquiring an additional 349 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Commvault Systems were worth $256,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Virtu Financial LLC grew its position in Commvault Systems by 63.9% during the 4th quarter. Virtu Financial LLC now owns 8,243 shares of the software maker’s stock worth $1,244,000 after purchasing an additional 3,214 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Commvault Systems by 0.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker’s stock valued at $95,506,000 after buying an additional 4,957 shares during the last quarter. Banco Santander S.A. acquired a new position in shares of Commvault Systems in the 4th quarter valued at $833,000. New Age Alpha Advisors LLC purchased a new position in Commvault Systems in the 4th quarter worth $1,387,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Commvault Systems during the 4th quarter worth about $367,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Stock Down 0.9 %

NASDAQ:CVLT opened at $149.74 on Friday. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11. The stock’s 50-day moving average price is $162.75 and its 200-day moving average price is $161.57. The stock has a market capitalization of $6.59 billion, a PE ratio of 39.30 and a beta of 0.68.

Insiders Place Their Bets

In related news, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, the insider now directly owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 owns 427,231 shares of the company’s stock, valued at approximately $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. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVLT has been the subject of several research analyst reports. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. KeyCorp cut their price objective on shares of Commvault Systems from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday. Cantor Fitzgerald boosted their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Piper Sandler cut their price target on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.00.

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.