Commvault Systems, Inc. (NASDAQ:CVLT) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 632,870 shares of the software maker’s stock after acquiring an additional 4,957 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.44% of Commvault Systems worth $95,506,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock valued at $98,479,000 after acquiring an additional 555,656 shares during the last quarter. Norges Bank acquired a new position in shares of Commvault Systems in the fourth quarter valued at approximately $79,619,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Commvault Systems during the third quarter worth approximately $15,264,000. FMR LLC lifted its holdings in shares of Commvault Systems by 26.1% during the third quarter. FMR LLC now owns 466,315 shares of the software maker’s stock worth $71,743,000 after purchasing an additional 96,525 shares during the period. Finally, Vestcor Inc grew its position in Commvault Systems by 1,552.4% in the 3rd quarter. Vestcor Inc now owns 81,693 shares of the software maker’s stock valued at $12,568,000 after buying an additional 76,749 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Stock Performance

Commvault Systems stock opened at $157.76 on Tuesday. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 41.41 and a beta of 0.62. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The stock’s fifty day moving average is $166.40 and its two-hundred day moving average is $161.79.

Analyst Upgrades and Downgrades

CVLT has been the subject of a number of analyst reports. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Cantor Fitzgerald raised their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” 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 restated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Finally, KeyCorp increased their price objective on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Insider Activity at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction that occurred on 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 of the company’s stock, valued at $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Commvault Systems 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.