Commvault Systems, Inc. (NASDAQ:CVLT) Insider Sells $614,471.78 in Stock

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) insider Gary Merrill sold 3,287 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares of the company's stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Commvault Systems Stock Performance

NASDAQ CVLT traded down $0.38 during trading hours on Tuesday, reaching $169.43. 146,371 shares of the company's stock were exchanged, compared to its average volume of 515,778. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 44.36 and a beta of 0.65. The company's 50-day moving average is $163.99 and its two-hundred day moving average is $159.53. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11.

Hedge Funds Weigh In On Commvault Systems

Several hedge funds have recently made changes to their positions in CVLT. Quarry LP boosted its stake in shares of Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after buying an additional 151 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Commvault Systems in the 3rd quarter valued at about $33,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Commvault Systems by 409.0% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker's stock valued at $51,000 after purchasing an additional 274 shares during the last quarter. TFC Financial Management Inc. grew its holdings in Commvault Systems by 294.1% during the fourth 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 period. Finally, Point72 DIFC Ltd acquired a new stake in shares of Commvault Systems in the third quarter valued at approximately $71,000. 93.50% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of brokerages have recently issued reports on CVLT. KeyCorp increased their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 30th. Guggenheim reaffirmed a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. Finally, Cantor Fitzgerald increased their price objective 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. Five investment 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, Commvault Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.44.

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.