Emerald Mutual Fund Advisers Trust Cuts Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Emerald Mutual Fund Advisers Trust decreased its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 36.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,638 shares of the software maker’s stock after selling 19,040 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.07% of Commvault Systems worth $4,925,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Commvault Systems during the 3rd quarter worth about $774,000. Tidal Investments LLC acquired a new stake in Commvault Systems during the third quarter valued at approximately $279,000. GAMMA Investing LLC grew its stake in shares of Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after purchasing an additional 121 shares during the last quarter. CWA Asset Management Group LLC increased its holdings in Commvault Systems by 20.4% in the fourth quarter. CWA Asset Management Group LLC now owns 7,994 shares of the software maker’s stock valued at $1,206,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Oak Ridge Investments LLC bought a new stake in Commvault Systems during the fourth quarter worth about $2,561,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald raised their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Piper Sandler lowered their price objective on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Finally, StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average target price of $158.00.

Commvault Systems Trading Up 0.3 %

NASDAQ:CVLT opened at $165.96 on Tuesday. The business’s 50-day moving average price is $158.88 and its two-hundred day moving average price is $161.67. Commvault Systems, Inc. has a 1-year low of $97.63 and a 1-year high of $190.11. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of 43.56 and a beta of 0.68.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the 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. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction 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 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. Corporate insiders own 1.00% of the company’s stock.

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.