Bridgewater Associates LP Sells 3,866 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Bridgewater Associates LP trimmed its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,736 shares of the software maker's stock after selling 3,866 shares during the quarter. Bridgewater Associates LP's holdings in Commvault Systems were worth $2,677,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVLT. TFC Financial Management Inc. lifted its stake in shares of Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock valued at $61,000 after buying an additional 300 shares during the period. Blue Trust Inc. lifted its stake in Commvault Systems by 37,400.0% during the fourth 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 period. Meeder Asset Management Inc. bought a new position in Commvault Systems during the fourth quarter worth about $127,000. GAMMA Investing LLC increased its holdings in shares of Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock worth $152,000 after buying an additional 121 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Commvault Systems by 69.1% during the fourth quarter. AlphaQuest LLC now owns 1,023 shares of the software maker's stock worth $154,000 after buying an additional 418 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Price Performance

NASDAQ CVLT traded up $8.47 during trading hours on Thursday, reaching $162.21. The company's stock had a trading volume of 85,050 shares, compared to its average volume of 408,244. The firm has a fifty day simple moving average of $160.16 and a 200-day simple moving average of $161.52. The stock has a market cap of $7.14 billion, a P/E ratio of 42.57 and a beta of 0.68. Commvault Systems, Inc. has a 52 week low of $95.57 and a 52 week high of $190.11.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Cantor Fitzgerald raised their price target on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Piper Sandler dropped their price target on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Commvault Systems currently has a consensus rating of "Moderate Buy" and an average target price of $158.00.

Insiders Place Their Bets

In related news, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction dated 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 owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.