Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) Director Sells 1,500 Shares of Stock

Commvault Systems, Inc. (NASDAQ:CVLT) Director Nicola Adamo sold 1,500 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the sale, the director now directly owns 16,178 shares in the company, valued at approximately $2,746,053.72. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Commvault Systems Price Performance

NASDAQ:CVLT opened at $174.86 on Friday. The company’s fifty day moving average price is $158.89 and its 200-day moving average price is $162.82. The firm has a market capitalization of $7.69 billion, a P/E ratio of 45.89 and a beta of 0.71. Commvault Systems, Inc. has a 1-year low of $105.76 and a 1-year high of $190.11.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The firm had revenue of $275.04 million for the quarter, compared to analysts’ expectations of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $0.79 EPS. Equities analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVLT has been the subject of a number of recent analyst reports. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. Piper Sandler decreased their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada raised their target price on shares of Commvault Systems from $175.00 to $185.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. Finally, 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 note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its stake in Commvault Systems by 101.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker’s stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Quarry LP boosted its holdings in shares of Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Commvault Systems in the first quarter valued at approximately $27,000. Whipplewood Advisors LLC increased its holdings in shares of Commvault Systems by 584.0% in the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock valued at $27,000 after purchasing an additional 146 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Commvault Systems by 208.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker’s stock worth $29,000 after buying an additional 125 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.