3,659 Shares in Commvault Systems, Inc. (NASDAQ:CVLT) Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC purchased a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,659 shares of the software maker’s stock, valued at approximately $552,000.

A number of other hedge funds also recently modified their holdings of CVLT. TFC Financial Management Inc. raised its stake in shares of Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after purchasing an additional 300 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Commvault Systems in the 3rd quarter valued at $71,000. TD Private Client Wealth LLC acquired a new position in shares of Commvault Systems in the 3rd quarter valued at $105,000. Blue Trust Inc. lifted its holdings in shares of Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock worth $113,000 after acquiring an additional 748 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Commvault Systems during the 4th quarter valued at about $127,000. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Down 8.9 %

Shares of NASDAQ:CVLT opened at $139.35 on Monday. The firm has a market cap of $6.13 billion, a P/E ratio of 36.57 and a beta of 0.68. Commvault Systems, Inc. has a 12 month low of $93.48 and a 12 month high of $190.11. The company’s 50-day moving average price is $165.87 and its two-hundred day moving average price is $161.97.

Insider Transactions at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was 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 of the company’s stock, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares of the company’s stock, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. KeyCorp increased their price target 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. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. 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. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.