Legal & General Group Plc Reduces Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Legal & General Group Plc decreased its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,341 shares of the software maker's stock after selling 2,429 shares during the period. Legal & General Group Plc owned approximately 0.18% of Commvault Systems worth $11,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVLT. Stifel Financial Corp increased its stake in Commvault Systems by 27.2% in the 3rd quarter. Stifel Financial Corp now owns 6,753 shares of the software maker's stock worth $1,039,000 after purchasing an additional 1,445 shares during the period. Virtu Financial LLC purchased a new position in shares of Commvault Systems in the third quarter worth $774,000. Sanctuary Advisors LLC purchased a new position in shares of Commvault Systems in the third quarter worth $392,000. Tidal Investments LLC bought a new stake in Commvault Systems during the 3rd quarter valued at $279,000. Finally, GAMMA Investing LLC boosted its position in Commvault Systems by 13.7% during the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock valued at $152,000 after buying an additional 121 shares during the period. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a report on Wednesday, January 29th. KeyCorp reduced their target price on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday. Cantor Fitzgerald lifted their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Piper Sandler decreased their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.00.

Commvault Systems Stock Down 0.9 %

Shares of Commvault Systems stock traded down $1.32 during trading hours on Friday, reaching $149.74. 367,592 shares of the stock traded hands, compared to its average volume of 406,541. The company has a 50 day moving average price of $162.17 and a 200 day moving average price of $161.57. Commvault Systems, Inc. has a one year low of $94.28 and a one year high of $190.11. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 39.30 and a beta of 0.68.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of Commvault Systems 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction on 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 directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Commvault Systems 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.