Corebridge Financial Inc. Sells 3,832 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Corebridge Financial Inc. reduced its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,874 shares of the software maker's stock after selling 3,832 shares during the quarter. Corebridge Financial Inc. owned 0.16% of Commvault Systems worth $10,696,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVLT. TFC Financial Management Inc. lifted its position in Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after buying an additional 300 shares in the last quarter. Point72 DIFC Ltd bought a new position in Commvault Systems in the 3rd quarter valued at $71,000. TD Private Client Wealth LLC acquired a new stake in shares of Commvault Systems in the 3rd quarter valued at $105,000. Blue Trust Inc. raised its position in shares of 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 acquiring an additional 748 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of Commvault Systems during the third quarter worth $126,000. 93.50% of the stock is owned by institutional investors.

Commvault Systems Price Performance

NASDAQ:CVLT traded down $3.30 on Friday, hitting $161.98. 298,402 shares of the company's stock were exchanged, compared to its average volume of 393,217. The firm has a 50-day moving average price of $166.47 and a 200-day moving average price of $161.60. The company has a market cap of $7.13 billion, a P/E ratio of 42.51 and a beta of 0.62. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11.

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Analysts Set New Price Targets

Several analysts have weighed in on CVLT shares. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Cantor Fitzgerald upped their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. KeyCorp raised their price target on Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. Finally, William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $156.44.

Insider Activity at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, the insider now owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total value of $2,290,655.28. Following the sale, the chief executive officer now directly owns 427,231 shares of the company's stock, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Commvault Systems Company Profile

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.