Alpha DNA Investment Management LLC Acquires Shares of 2,841 Commvault Systems, Inc. (NASDAQ:CVLT)

Alpha DNA Investment Management LLC acquired a new stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,841 shares of the software maker's stock, valued at approximately $429,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Commvault Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock worth $850,613,000 after purchasing an additional 54,562 shares during the period. Renaissance Technologies LLC increased its position in shares of Commvault Systems by 1.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock valued at $288,115,000 after acquiring an additional 24,900 shares during the period. Invesco Ltd. raised 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 acquiring an additional 607,643 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Commvault Systems by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock worth $194,681,000 after purchasing an additional 43,088 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after buying an additional 555,656 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were 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 directly owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value 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 trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

CVLT has been the topic of several research analyst reports. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research report on Wednesday. Piper Sandler reduced their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Finally, KeyCorp cut their price objective on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Commvault Systems presently has a consensus rating of "Moderate Buy" and an average price target of $158.00.

Commvault Systems Price Performance

NASDAQ CVLT traded up $8.31 during mid-day trading on Thursday, reaching $162.05. The stock had a trading volume of 102,056 shares, compared to its average volume of 479,715. The stock has a market cap of $7.13 billion, a PE ratio of 42.54 and a beta of 0.68. Commvault Systems, Inc. has a 1 year low of $95.57 and a 1 year high of $190.11. The company has a fifty day moving average price of $160.16 and a 200 day moving average price of $161.52.

Commvault Systems 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.