Sanjay Mirchandani Sells 12,318 Shares of Commvault Systems, Inc. (NASDAQ:CVLT) Stock

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Commvault Systems Trading Down 0.2 %

Shares of CVLT traded down $0.38 during trading hours on Tuesday, reaching $169.43. 146,371 shares of the company traded hands, compared to its average volume of 515,778. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 44.36 and a beta of 0.65. Commvault Systems, Inc. has a 12-month low of $93.48 and a 12-month high of $190.11. The stock's fifty day moving average price is $163.99 and its 200 day moving average price is $159.53.

Wall Street Analyst Weigh In

CVLT has been the topic of a number of recent research reports. KeyCorp upped 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. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 target price on the stock. Royal Bank of Canada raised their price target on Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 30th. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Finally, StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Commvault Systems presently has a consensus rating of "Moderate Buy" and an average target price of $156.44.

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Hedge Funds Weigh In On Commvault Systems

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $90,278,000 after purchasing an additional 120,779 shares during the period. Summit Partners Public Asset Management LLC bought a new stake in Commvault Systems during the 3rd quarter valued at $67,722,000. Point72 Hong Kong Ltd lifted its holdings in shares of Commvault Systems by 37.9% in the 3rd quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker's stock worth $3,603,000 after buying an additional 6,433 shares during the period. Raymond James & Associates grew its position in shares of Commvault Systems by 58.1% during the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker's stock worth $2,371,000 after buying an additional 5,661 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Commvault Systems by 31.8% during the third quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker's stock valued at $3,704,000 after buying an additional 5,805 shares during the period. 93.50% of the stock is currently owned by institutional investors.

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.