Sanjay Mirchandani Sells 12,318 Shares of Commvault Systems, Inc. (NASDAQ:CVLT) Stock

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value of $2,290,655.28. Following the completion of the transaction, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Commvault Systems Stock Performance

Commvault Systems stock opened at $170.61 on Friday. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 44.78 and a beta of 0.65. Commvault Systems, Inc. has a 52-week low of $92.36 and a 52-week high of $190.11. The stock’s 50 day moving average price is $164.01 and its two-hundred day moving average price is $159.26.

Hedge Funds Weigh In On Commvault Systems

A number of institutional investors and hedge funds have recently modified their holdings of CVLT. Invesco Ltd. boosted its holdings in shares of Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock worth $250,527,000 after buying an additional 607,643 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after purchasing an additional 555,656 shares in the last quarter. Norges Bank bought a new position in shares of Commvault Systems in the 4th quarter worth $79,619,000. Summit Partners Public Asset Management LLC bought a new position in shares of Commvault Systems in the 3rd quarter worth $67,722,000. Finally, Polar Capital Holdings Plc lifted its holdings in shares of Commvault Systems by 182.5% in the 4th quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker’s stock worth $54,774,000 after purchasing an additional 234,477 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CVLT. Royal Bank of Canada upped their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Oppenheimer started coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald increased 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, StockNews.com downgraded shares of Commvault Systems from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $156.44.

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.