Alliancebernstein L.P. lessened its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 29.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 420,976 shares of the software maker's stock after selling 172,226 shares during the quarter. Alliancebernstein L.P. owned 0.96% of Commvault Systems worth $63,529,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. TFC Financial Management Inc. boosted its stake in shares of Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after purchasing an additional 300 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Commvault Systems during the 3rd quarter worth about $71,000. TD Private Client Wealth LLC acquired a new stake in shares of Commvault Systems during the 3rd quarter worth about $105,000. Blue Trust Inc. boosted its stake in shares of Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after purchasing an additional 748 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Commvault Systems during the 4th quarter worth about $127,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, insider Gary Merrill sold 3,287 shares of the business'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 sale, the insider now owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total value 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 approximately $79,447,876.76. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.
Commvault Systems Stock Down 4.4 %
Commvault Systems stock traded down $6.89 during trading hours on Thursday, hitting $150.83. The stock had a trading volume of 42,116 shares, compared to its average volume of 402,022. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 40.09 and a beta of 0.68. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The business's 50 day simple moving average is $165.00 and its 200-day simple moving average is $161.65.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on CVLT. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. KeyCorp boosted their target price on shares of Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Cantor Fitzgerald increased their target price 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. Finally, Piper Sandler cut their price target on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Commvault Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.11.
Check Out Our Latest Analysis on Commvault Systems
Commvault Systems Company Profile
(
Free Report)
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.
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