Commvault Systems, Inc. (NASDAQ:CVLT) Insider Sells $614,471.78 in Stock

Commvault Systems, Inc. (NASDAQ:CVLT) insider Gary Merrill sold 3,287 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value 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 represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Commvault Systems Price Performance

Shares of CVLT stock opened at $170.61 on Friday. The stock has a market capitalization of $7.51 billion, a PE ratio of 44.78 and a beta of 0.65. Commvault Systems, Inc. has a 1-year low of $92.36 and a 1-year high of $190.11. The business has a 50-day moving average of $163.97 and a 200 day moving average of $158.89.

Institutional Investors Weigh In On Commvault Systems

Several institutional investors and hedge funds have recently bought and sold shares of CVLT. Invesco Ltd. lifted its holdings in Commvault Systems by 57.7% in 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 during the period. Allspring Global Investments Holdings LLC lifted its holdings in 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 buying an additional 555,656 shares during the period. Norges Bank purchased a new stake in Commvault Systems in the 4th quarter worth approximately $79,619,000. Summit Partners Public Asset Management LLC purchased a new stake in Commvault Systems in the 3rd quarter worth approximately $67,722,000. Finally, Polar Capital Holdings Plc lifted its holdings in 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 buying an additional 234,477 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVLT. StockNews.com lowered Commvault Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. KeyCorp increased their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Oppenheimer began coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Finally, William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.