Geode Capital Management LLC Has $194.68 Million Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Geode Capital Management LLC boosted its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,288,068 shares of the software maker's stock after purchasing an additional 43,088 shares during the period. Geode Capital Management LLC owned approximately 2.93% of Commvault Systems worth $194,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TFC Financial Management Inc. grew its stake in shares of Commvault Systems by 294.1% in the 4th 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 last quarter. Point72 DIFC Ltd bought a new stake in Commvault Systems during the third quarter worth approximately $71,000. TD Private Client Wealth LLC acquired a new position in Commvault Systems in the third quarter worth approximately $105,000. Blue Trust Inc. increased its holdings in shares of Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock valued at $113,000 after buying an additional 748 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Commvault Systems during the 4th quarter valued at $127,000. 93.50% of the stock is owned by institutional investors.

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 shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the transaction, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

A number of brokerages have recently issued reports on CVLT. KeyCorp boosted their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Piper Sandler cut their price objective on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday. Cantor Fitzgerald upped their price objective 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. Finally, StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.11.

Commvault Systems Trading Up 0.7 %

CVLT stock traded up $1.10 during midday trading on Friday, reaching $152.49. The company had a trading volume of 287,098 shares, compared to its average volume of 403,429. The company has a 50 day moving average of $164.54 and a two-hundred day moving average of $161.65. Commvault Systems, Inc. has a 1 year low of $93.48 and a 1 year high of $190.11. The company has a market capitalization of $6.71 billion, a P/E ratio of 40.02 and a beta of 0.68.

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.