Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sells 12,318 Shares of Stock

Commvault Systems, Inc. (NASDAQ:CVLT) 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 value of $2,290,655.28. Following the completion of the transaction, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Commvault Systems Price Performance

Shares of CVLT opened at $170.61 on Friday. The firm has a market cap of $7.51 billion, a P/E ratio of 44.78 and a beta of 0.65. The stock has a 50 day simple moving average of $164.01 and a two-hundred day simple moving average of $159.26. Commvault Systems, Inc. has a 1 year low of $92.36 and a 1 year high of $190.11.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVLT shares. StockNews.com cut Commvault Systems from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Oppenheimer initiated coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. KeyCorp raised their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada boosted 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. Finally, William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Commvault Systems currently has a consensus rating of “Hold” and an average price target of $156.44.

Institutional Trading of Commvault Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Commvault Systems by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker’s stock worth $850,613,000 after buying an additional 54,562 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Commvault Systems by 1.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker’s stock worth $288,115,000 after buying an additional 24,900 shares in the last quarter. Invesco Ltd. boosted its stake in shares of 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 purchasing an additional 607,643 shares during the period. State Street Corp boosted its stake in shares of 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 purchasing an additional 25,082 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of 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 during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.