Envestnet Asset Management Inc. Decreases Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Envestnet Asset Management Inc. decreased its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 13.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,227 shares of the software maker's stock after selling 7,950 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of Commvault Systems worth $7,731,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CVLT. TFC Financial Management Inc. grew its stake in shares of Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock valued at $61,000 after purchasing an additional 300 shares during the period. Blue Trust Inc. grew its stake in shares of Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock valued at $113,000 after purchasing an additional 748 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Commvault Systems during the 4th quarter valued at about $127,000. GAMMA Investing LLC grew its stake in shares of Commvault Systems by 13.7% during the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock valued at $152,000 after purchasing an additional 121 shares during the period. Finally, AlphaQuest LLC grew its stake in shares of Commvault Systems by 69.1% during the 4th quarter. AlphaQuest LLC now owns 1,023 shares of the software maker's stock valued at $154,000 after purchasing an additional 418 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Insider Transactions at Commvault Systems

In other news, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now directly owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business's 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVLT. KeyCorp cut their price objective on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Cantor Fitzgerald boosted their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a report on Wednesday. StockNews.com raised Commvault Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Finally, Piper Sandler lowered their price target on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.00.

Commvault Systems Stock Up 4.3 %

NASDAQ:CVLT traded up $6.62 during trading hours on Thursday, reaching $160.36. 61,065 shares of the stock were exchanged, compared to its average volume of 408,149. The business has a 50-day moving average of $160.16 and a two-hundred day moving average of $161.52. Commvault Systems, Inc. has a twelve month low of $95.57 and a twelve month high of $190.11. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 42.10 and a beta of 0.68.

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.