Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sells 12,318 Shares of Stock

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction that occurred on 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 owns 427,231 shares in the company, valued at $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Commvault Systems Trading Down 7.7 %

Commvault Systems stock traded down $14.27 on Friday, hitting $170.61. 743,211 shares of the stock traded hands, compared to its average volume of 525,356. The business’s fifty day simple moving average is $163.97 and its 200 day simple moving average is $158.89. The firm has a market cap of $7.51 billion, a P/E ratio of 44.78 and a beta of 0.65. Commvault Systems, Inc. has a 1 year low of $92.36 and a 1 year high of $190.11.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CVLT shares. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. StockNews.com cut shares of Commvault Systems from a “buy” rating to a “hold” rating in a report on Monday. Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada raised their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $156.44.

Hedge Funds Weigh In On Commvault Systems

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Commvault Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker’s stock worth $850,613,000 after purchasing an additional 54,562 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Commvault Systems by 1.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker’s stock worth $288,115,000 after purchasing an additional 24,900 shares during the last quarter. Invesco Ltd. raised its position in shares of Commvault Systems by 57.7% in the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock worth $250,527,000 after purchasing an additional 607,643 shares during the last quarter. State Street Corp raised its position in shares of Commvault Systems by 1.6% in the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after purchasing an additional 25,082 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Commvault Systems by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker’s stock worth $194,681,000 after purchasing an additional 43,088 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.