OVERSEA CHINESE BANKING Corp Ltd Sells 710 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

OVERSEA CHINESE BANKING Corp Ltd cut its stake in Commvault Systems, Inc. (NASDAQ:CVLT) by 22.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,504 shares of the software maker’s stock after selling 710 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Commvault Systems were worth $378,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. TFC Financial Management Inc. raised its holdings in Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Commvault Systems in the 3rd quarter worth about $71,000. TD Private Client Wealth LLC purchased a new stake in shares of Commvault Systems in the 3rd quarter worth about $105,000. Blue Trust Inc. grew its position in shares of Commvault Systems by 37,400.0% in 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 during the period. Finally, Centaurus Financial Inc. purchased a new stake in shares of Commvault Systems in the 3rd quarter worth about $126,000. 93.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 427,231 shares of the company’s stock, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary Merrill sold 3,287 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Commvault Systems Stock Down 1.9 %

Shares of NASDAQ CVLT opened at $162.21 on Friday. The firm’s 50-day moving average price is $165.62 and its 200-day moving average price is $160.69. The company has a market cap of $7.14 billion, a PE ratio of 42.57 and a beta of 0.62. Commvault Systems, Inc. has a 52-week low of $93.48 and a 52-week high of $190.11.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVLT. KeyCorp upped their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” 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 report on Tuesday, February 25th. 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 price objective 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, Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.44.

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.