Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) Insider Sells 3,287 Shares of Stock

Commvault Systems, Inc. (NASDAQ:CVLT) insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the sale, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Commvault Systems Trading Down 7.7 %

NASDAQ CVLT traded down $14.27 during trading hours on Friday, hitting $170.61. 743,211 shares of the company’s stock traded hands, compared to its average volume of 525,356. The business’s fifty day moving average price is $163.97 and its two-hundred day moving average price is $158.89. The firm has a market capitalization of $7.51 billion, a P/E ratio of 44.78 and a beta of 0.65. Commvault Systems, Inc. has a 52 week low of $92.36 and a 52 week high of $190.11.

Institutional Trading of Commvault Systems

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Commvault Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker’s stock valued at $850,613,000 after buying an additional 54,562 shares during the period. Renaissance Technologies LLC grew its position in Commvault Systems by 1.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker’s stock valued at $288,115,000 after buying an additional 24,900 shares during the period. Invesco Ltd. grew its position in Commvault Systems by 57.7% during the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock valued at $250,527,000 after buying an additional 607,643 shares during the period. State Street Corp grew its position in Commvault Systems by 1.6% during the third quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock valued at $245,244,000 after buying an additional 25,082 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Commvault Systems by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker’s stock valued at $194,681,000 after purchasing an additional 43,088 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CVLT shares. Oppenheimer started coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective for the company. StockNews.com lowered shares of Commvault Systems from a “buy” rating to a “hold” rating in a research note on Monday. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note 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 research note on Wednesday, October 30th. Finally, KeyCorp lifted 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $156.44.

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.