Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 12,318 Shares

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at $79,447,876.76. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Commvault Systems Stock Performance

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CVLT. Creative Planning grew its position in Commvault Systems by 66.0% in the 3rd quarter. Creative Planning now owns 12,150 shares of the software maker’s stock worth $1,869,000 after purchasing an additional 4,829 shares during the last quarter. Raymond James & Associates grew its position in Commvault Systems by 58.1% in the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock worth $2,371,000 after purchasing an additional 5,661 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Commvault Systems by 365.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 91,869 shares of the software maker’s stock worth $14,134,000 after purchasing an additional 72,146 shares during the last quarter. Signaturefd LLC grew its position in Commvault Systems by 43.9% in the 3rd quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock worth $91,000 after purchasing an additional 180 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Commvault Systems in the 3rd quarter worth about $4,142,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. 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 boosted their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. KeyCorp boosted 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. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Commvault Systems from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. 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 has a consensus rating of “Hold” 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.