Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lowered its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,830 shares of the software maker's stock after selling 2,350 shares during the quarter. Hillsdale Investment Management Inc. owned 0.09% of Commvault Systems worth $6,011,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVLT. TFC Financial Management Inc. increased its holdings in Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock valued at $61,000 after acquiring an additional 300 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Commvault Systems during the 3rd quarter worth approximately $71,000. TD Private Client Wealth LLC acquired a new position in shares of Commvault Systems during the 3rd quarter worth approximately $105,000. Blue Trust Inc. lifted its stake in Commvault Systems by 37,400.0% in the 4th 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, Centaurus Financial Inc. acquired a new stake in Commvault Systems during the 3rd quarter valued at $126,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems 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 transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now directly owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. This trade represents a 3.63 % 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 insiders.

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Commvault Systems Stock Up 2.3 %

Shares of CVLT stock traded up $3.98 on Tuesday, reaching $173.15. 94,047 shares of the stock were exchanged, compared to its average volume of 373,094. Commvault Systems, Inc. has a 1-year low of $93.48 and a 1-year high of $190.11. The stock has a market cap of $7.62 billion, a P/E ratio of 45.42 and a beta of 0.62. The firm has a 50 day moving average of $166.03 and a two-hundred day moving average of $161.04.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CVLT shares. KeyCorp upped their price objective on Commvault Systems from $192.00 to $195.00 and gave the company 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. StockNews.com raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Cantor Fitzgerald raised their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Finally, William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $156.44.

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.