Prudential Financial Inc. increased its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 64.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 126,870 shares of the software maker's stock after purchasing an additional 49,889 shares during the period. Prudential Financial Inc. owned approximately 0.29% of Commvault Systems worth $19,146,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVLT. TFC Financial Management Inc. grew its stake in shares of Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock valued at $61,000 after buying an additional 300 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Commvault Systems during the third quarter worth about $71,000. TD Private Client Wealth LLC purchased a new position in Commvault Systems in the third quarter worth approximately $105,000. Blue Trust Inc. lifted its stake in Commvault Systems by 37,400.0% in the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after acquiring an additional 748 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in shares of Commvault Systems in the 3rd quarter valued at approximately $126,000. Hedge funds and other institutional investors own 93.50% of the company's stock.
Insider Buying and Selling
In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total value of $2,290,655.28. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the company's 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. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.
Commvault Systems Stock Performance
NASDAQ CVLT traded down $3.30 during trading on Friday, reaching $161.98. The company's stock had a trading volume of 298,402 shares, compared to its average volume of 393,217. The business's fifty day moving average price is $166.47 and its 200-day moving average price is $161.60. Commvault Systems, Inc. has a twelve month low of $93.48 and a twelve month high of $190.11. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 42.51 and a beta of 0.62.
Analyst Upgrades and Downgrades
CVLT has been the subject of a number of analyst reports. William Blair upgraded shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. KeyCorp increased their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Cantor Fitzgerald boosted their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. Finally, Guggenheim restated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.44.
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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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