Commvault Systems, Inc. (NASDAQ:CVLT) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 23.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,794 shares of the software maker's stock after purchasing an additional 6,982 shares during the quarter. Van ECK Associates Corp owned 0.08% of Commvault Systems worth $5,553,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Commvault Systems by 604.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock valued at $98,479,000 after purchasing an additional 555,656 shares during the period. Summit Partners Public Asset Management LLC purchased a new stake in Commvault Systems in the 3rd quarter valued at about $67,722,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock valued at $90,278,000 after purchasing an additional 120,779 shares during the period. Congress Asset Management Co. lifted its holdings in shares of Commvault Systems by 29.4% in the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker's stock worth $75,719,000 after buying an additional 111,715 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Commvault Systems during the 3rd quarter worth about $15,264,000. Institutional investors own 93.50% of the company's stock.

Insider Buying and Selling at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now directly owns 5,899 shares of the company's stock, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the 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 owns 427,231 shares in the company, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,837 shares of company stock worth $3,117,647. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVLT shares. William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. StockNews.com lowered Commvault Systems from a "buy" rating to a "hold" rating in a report on Monday. Oppenheimer began coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an "outperform" rating and a $200.00 target price on the stock. Finally, KeyCorp upped their target price on Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Commvault Systems has a consensus rating of "Hold" and an average target price of $156.44.

Commvault Systems Stock Down 7.7 %

Shares of NASDAQ:CVLT traded down $14.27 during trading on Friday, hitting $170.61. The stock had a trading volume of 743,211 shares, compared to its average volume of 525,356. Commvault Systems, Inc. has a 12-month low of $92.36 and a 12-month high of $190.11. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 44.78 and a beta of 0.65. The stock has a 50-day simple moving average of $163.97 and a two-hundred day simple moving average of $158.89.

About Commvault Systems

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.