Twin Tree Management LP Cuts Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Twin Tree Management LP cut its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 60.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,395 shares of the software maker's stock after selling 25,294 shares during the quarter. Twin Tree Management LP's holdings in Commvault Systems were worth $2,474,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Gallacher Capital Management LLC grew its holdings in Commvault Systems by 11.4% in the fourth quarter. Gallacher Capital Management LLC now owns 1,541 shares of the software maker's stock worth $233,000 after purchasing an additional 158 shares during the period. Corient Private Wealth LLC boosted its position in shares of Commvault Systems by 8.3% in the 4th quarter. Corient Private Wealth LLC now owns 2,909 shares of the software maker's stock worth $439,000 after purchasing an additional 224 shares in the last quarter. Globeflex Capital L P grew its stake in shares of Commvault Systems by 7.4% in the 4th quarter. Globeflex Capital L P now owns 12,972 shares of the software maker's stock worth $1,958,000 after buying an additional 891 shares during the last quarter. Natixis Advisors LLC increased its position in Commvault Systems by 2.2% during the 4th quarter. Natixis Advisors LLC now owns 10,826 shares of the software maker's stock valued at $1,634,000 after buying an additional 238 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Commvault Systems by 8.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,040 shares of the software maker's stock valued at $459,000 after buying an additional 244 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Commvault Systems

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 transaction of $614,471.78. Following the transaction, the insider now owns 87,316 shares of the company's stock, valued at $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 completion of the sale, the chief executive officer now directly owns 427,231 shares of the company's stock, valued at approximately $79,447,876.76. This trade represents a 2.80 % 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 corporate insiders.

Commvault Systems Stock Performance

Shares of CVLT stock traded down $0.69 during mid-day trading on Friday, reaching $161.52. 685,388 shares of the company's stock traded hands, compared to its average volume of 372,591. Commvault Systems, Inc. has a 12 month low of $93.48 and a 12 month high of $190.11. The firm has a 50 day moving average price of $165.77 and a two-hundred day moving average price of $160.73. The firm has a market capitalization of $7.11 billion, a PE ratio of 42.39 and a beta of 0.62.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVLT. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research note 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. KeyCorp upped their price target 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 raised their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a 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 report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.