EFG Asset Management North America Corp. increased its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 58.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,422 shares of the software maker's stock after purchasing an additional 12,345 shares during the quarter. EFG Asset Management North America Corp. owned approximately 0.08% of Commvault Systems worth $5,040,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. TFC Financial Management Inc. boosted its stake in shares of 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 during the last quarter. Point72 DIFC Ltd acquired a new position in Commvault Systems during the third quarter valued at approximately $71,000. TD Private Client Wealth LLC bought a new position in Commvault Systems in the third quarter valued at approximately $105,000. Blue Trust Inc. increased its position in shares of Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after purchasing an additional 748 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of Commvault Systems during the 3rd quarter worth approximately $126,000. Institutional investors own 93.50% of the company's stock.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Cantor Fitzgerald increased their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Finally, KeyCorp upped their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.44.
Read Our Latest Stock Report on CVLT
Insider Buying and Selling at Commvault Systems
In related news, CEO Sanjay Mirchandani sold 12,318 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 427,231 shares in the company, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the sale, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.
Commvault Systems Stock Down 2.0 %
Shares of NASDAQ:CVLT traded down $3.30 during trading on Friday, reaching $161.98. 298,402 shares of the company traded hands, compared to its average volume of 393,217. The firm has a market capitalization of $7.13 billion, a PE ratio of 42.51 and a beta of 0.62. The company's 50 day moving average is $166.47 and its two-hundred day moving average is $161.60. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11.
About Commvault Systems
(
Free Report)
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.
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