Pinebridge Investments L.P. Has $2.07 Million Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Pinebridge Investments L.P. lifted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 47.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,682 shares of the software maker's stock after acquiring an additional 4,380 shares during the quarter. Pinebridge Investments L.P.'s holdings in Commvault Systems were worth $2,065,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVLT. Virtu Financial LLC acquired a new stake in shares of Commvault Systems in the third quarter valued at $774,000. Tidal Investments LLC bought a new position in shares of Commvault Systems in the third quarter worth about $279,000. GAMMA Investing LLC lifted its position in shares of Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock worth $152,000 after purchasing an additional 121 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of Commvault Systems by 20.4% during the fourth quarter. CWA Asset Management Group LLC now owns 7,994 shares of the software maker's stock valued at $1,206,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Oak Ridge Investments LLC acquired a new stake in shares of Commvault Systems in the fourth quarter valued at approximately $2,561,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Trading Up 1.3 %

Shares of Commvault Systems stock opened at $165.51 on Monday. The stock's fifty day simple moving average is $159.28 and its 200 day simple moving average is $161.65. The company has a market capitalization of $7.28 billion, a PE ratio of 43.44 and a beta of 0.68. Commvault Systems, Inc. has a 12 month low of $97.63 and a 12 month high of $190.11.

Analysts Set New Price Targets

A number of brokerages have commented on CVLT. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. 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 lowered their price target on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Piper Sandler cut their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Commvault Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.00.

Insider Transactions at Commvault Systems

In related news, insider Gary Merrill sold 3,287 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now directly owns 87,316 shares in the company, valued at approximately $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business'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 value of $2,290,655.28. Following the completion of the sale, the chief executive officer now owns 427,231 shares in the company, valued at $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 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.

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