Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 12,318 Shares

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 12,318 shares of the company’s 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 owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Commvault Systems Trading Down 7.7 %

Shares of Commvault Systems stock traded down $14.27 on Friday, reaching $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 1 year low of $92.36 and a 1 year high of $190.11. The company has a market cap of $7.51 billion, a P/E ratio of 44.78 and a beta of 0.65. The business’s 50 day moving average is $163.97 and its two-hundred day moving average is $158.89.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CVLT shares. Royal Bank of Canada increased their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald increased their price target 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. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Finally, KeyCorp increased their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $156.44.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CVLT. Quarry LP increased its position in shares of Commvault Systems by 888.2% in the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Commvault Systems in the third quarter worth approximately $33,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Commvault Systems by 409.0% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock worth $51,000 after purchasing an additional 274 shares during the last quarter. TFC Financial Management Inc. increased its position 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 worth $61,000 after purchasing an additional 300 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Commvault Systems in the third quarter worth approximately $71,000. 93.50% of the stock is currently owned by institutional investors.

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.