Geode Capital Management LLC Acquires 43,088 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Geode Capital Management LLC grew its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,288,068 shares of the software maker’s stock after acquiring an additional 43,088 shares during the period. Geode Capital Management LLC owned 2.93% of Commvault Systems worth $194,681,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CVLT. Virtu Financial LLC raised its holdings in Commvault Systems by 63.9% in the 4th quarter. Virtu Financial LLC now owns 8,243 shares of the software maker’s stock worth $1,244,000 after purchasing an additional 3,214 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Commvault Systems by 0.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 632,870 shares of the software maker’s stock worth $95,506,000 after purchasing an additional 4,957 shares during the last quarter. Banco Santander S.A. bought a new position in shares of Commvault Systems during the fourth quarter valued at approximately $833,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Commvault Systems in the fourth quarter worth approximately $367,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker’s stock worth $98,479,000 after acquiring an additional 555,656 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Insiders Place Their Bets

In other news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction 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 completion of the sale, the insider now directly owns 87,316 shares in the company, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of Commvault Systems stock in a transaction dated 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 sale, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. This represents 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. KeyCorp raised their price target on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating 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. 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 research report on Wednesday, January 29th. Finally, Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Trading Down 8.9 %

Shares of NASDAQ CVLT opened at $139.35 on Monday. The stock has a market capitalization of $6.13 billion, a PE ratio of 36.57 and a beta of 0.68. Commvault Systems, Inc. has a 12-month low of $93.48 and a 12-month high of $190.11. The stock’s fifty day simple moving average is $165.87 and its two-hundred day simple moving average is $161.97.

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.