Commvault Systems, Inc. (NASDAQ:CVLT) Shares Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd raised its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 37.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,421 shares of the software maker's stock after purchasing an additional 6,433 shares during the period. Point72 Hong Kong Ltd owned 0.05% of Commvault Systems worth $3,603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Maverick Capital Ltd. boosted its position in shares of Commvault Systems by 94.3% during the 3rd quarter. Maverick Capital Ltd. now owns 19,817 shares of the software maker's stock valued at $3,049,000 after acquiring an additional 9,619 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Commvault Systems during the third quarter valued at $15,264,000. Verition Fund Management LLC lifted its position in Commvault Systems by 301.5% during the third quarter. Verition Fund Management LLC now owns 6,725 shares of the software maker's stock valued at $1,035,000 after purchasing an additional 5,050 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Commvault Systems in the 3rd quarter worth $240,000. Finally, Summit Partners Public Asset Management LLC bought a new stake in shares of Commvault Systems in the 3rd quarter worth about $67,722,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

CVLT has been the subject of several recent research reports. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an "outperform" rating and a $200.00 price target for the company. Royal Bank of Canada increased their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. DA Davidson lifted their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Guggenheim lowered shares of Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Finally, StockNews.com lowered Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Commvault Systems has a consensus rating of "Moderate Buy" and an average target price of $151.25.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded down $0.04 during trading on Friday, reaching $171.59. 144,938 shares of the company were exchanged, compared to its average volume of 385,520. The business's fifty day simple moving average is $158.48 and its 200-day simple moving average is $140.31. Commvault Systems, Inc. has a 12-month low of $72.76 and a 12-month high of $178.72. The firm has a market capitalization of $7.50 billion, a PE ratio of 43.44 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. Commvault Systems's revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. On average, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the sale, the chief executive officer now owns 459,969 shares of the company's stock, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now directly owns 93,007 shares in the company, valued at $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. 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.