Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sells $2,290,655.28 in Stock

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total value of $2,290,655.28. Following the transaction, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $170.61 on Monday. The stock’s 50-day simple moving average is $164.01 and its 200 day simple moving average is $159.38. The company 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 52-week low of $92.36 and a 52-week high of $190.11.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. KeyCorp lifted their price target on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Oppenheimer assumed coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. StockNews.com downgraded Commvault Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Royal Bank of Canada lifted their price target 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. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $156.44.

Hedge Funds Weigh In On Commvault Systems

Institutional investors have recently bought and sold shares of the business. Quarry LP increased its position in Commvault Systems by 888.2% during the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after buying an additional 151 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Commvault Systems during the third quarter worth approximately $33,000. Point72 Asia Singapore Pte. Ltd. increased its position in Commvault Systems by 409.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock worth $51,000 after buying an additional 274 shares during the last quarter. TFC Financial Management Inc. increased its position in Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after buying an additional 300 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Commvault Systems during the third quarter worth approximately $71,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.