KLP Kapitalforvaltning AS Acquires Shares of 16,600 Commvault Systems, Inc. (NASDAQ:CVLT)

KLP Kapitalforvaltning AS acquired a new position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,600 shares of the software maker's stock, valued at approximately $2,505,000.

A number of other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC grew 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 valued at $98,479,000 after buying an additional 555,656 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new stake in shares of Commvault Systems in the third quarter valued at approximately $67,722,000. Charles Schwab Investment Management Inc. grew its stake in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock worth $90,278,000 after acquiring an additional 120,779 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in Commvault Systems during the third quarter worth $15,264,000. Finally, FMR LLC increased its position in 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 acquiring an additional 96,525 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the business's 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Merrill sold 3,287 shares of the firm's 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 sale, the insider now directly owns 87,316 shares of the company's stock, valued at $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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Commvault Systems Price Performance

Shares of Commvault Systems stock traded down $3.30 during midday trading on Friday, hitting $161.98. 298,402 shares of the company were exchanged, compared to its average volume of 393,217. The firm has a 50 day simple moving average of $166.47 and a 200-day simple moving average of $161.71. The firm has a market cap of $7.13 billion, a P/E ratio of 42.51 and a beta of 0.62. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVLT. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Cantor Fitzgerald lifted their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Guggenheim restated 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 report on Tuesday, February 25th. Finally, KeyCorp boosted 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.44.

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.