Commvault Systems, Inc. (NASDAQ:CVLT) Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 357,121 shares of the software maker's stock after acquiring an additional 28,016 shares during the period. Allianz Asset Management GmbH owned 0.81% of Commvault Systems worth $53,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock valued at $98,479,000 after purchasing an additional 555,656 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new stake in shares of Commvault Systems during the 3rd quarter worth about $67,722,000. Charles Schwab Investment Management Inc. lifted its stake in Commvault Systems by 25.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock valued at $90,278,000 after buying an additional 120,779 shares in the last quarter. Congress Asset Management Co. lifted its stake in Commvault Systems by 29.4% in the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker's stock valued at $75,719,000 after buying an additional 111,715 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Commvault Systems in the 3rd quarter valued at about $15,264,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Trading Down 7.7 %

NASDAQ:CVLT traded down $14.27 during midday trading on Friday, hitting $170.61. 743,211 shares of the company were exchanged, compared to its average volume of 619,401. The company has a fifty day simple moving average of $164.01 and a 200 day simple moving average of $159.38. Commvault Systems, Inc. has a fifty-two week low of $92.36 and a fifty-two week high of $190.11. The company has a market capitalization of $7.51 billion, a PE ratio of 44.78 and a beta of 0.65.

Wall Street Analyst Weigh In

CVLT has been the subject of a number of recent research reports. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. KeyCorp raised their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Oppenheimer started coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price target for the company. Finally, Cantor Fitzgerald raised their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Commvault Systems currently has an average rating of "Hold" and a consensus target price of $156.44.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction on 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 transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction on Wednesday, February 19th. The shares were 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 owns 87,316 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 16,837 shares of company stock worth $3,117,647. 1.00% of the stock is owned by company insiders.

About Commvault Systems

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.