Sierra Summit Advisors LLC Purchases Shares of 3,659 Commvault Systems, Inc. (NASDAQ:CVLT)

Sierra Summit Advisors LLC purchased a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,659 shares of the software maker's stock, valued at approximately $552,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Commvault Systems by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock valued at $850,613,000 after purchasing an additional 54,562 shares during the last quarter. State Street Corp boosted its stake in Commvault Systems by 1.6% in the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker's stock valued at $245,244,000 after purchasing an additional 25,082 shares during the period. Geode Capital Management LLC grew its holdings in Commvault Systems by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock valued at $194,681,000 after buying an additional 43,088 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position 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 worth $98,479,000 after buying an additional 555,656 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Commvault Systems by 0.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker's stock worth $95,506,000 after buying an additional 4,957 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

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Commvault Systems Price Performance

NASDAQ:CVLT traded up $1.10 during trading hours on Friday, hitting $152.49. The company's stock had a trading volume of 287,098 shares, compared to its average volume of 403,429. The stock has a fifty day simple moving average of $164.54 and a 200-day simple moving average of $161.65. Commvault Systems, Inc. has a twelve month low of $93.48 and a twelve month high of $190.11. The company has a market capitalization of $6.71 billion, a P/E ratio of 40.02 and a beta of 0.68.

Analyst Ratings Changes

A number of equities analysts recently commented on CVLT shares. 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 lifted their price target 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. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. KeyCorp lifted their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $159.11.

Insider Activity at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now directly owns 87,316 shares of the company's stock, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 directly owns 427,231 shares in the company, valued at $79,447,876.76. The trade was 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 insiders.

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.