Elevation Point Wealth Partners LLC Makes New $243,000 Investment in CommVault Systems, Inc. (NASDAQ:CVLT)

Elevation Point Wealth Partners LLC purchased a new stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,539 shares of the software maker's stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in CommVault Systems by 57.7% during the 4th 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. Norges Bank purchased a new position in shares of CommVault Systems during the fourth quarter valued at $79,619,000. Wedge Capital Management L L P NC grew its holdings in shares of CommVault Systems by 1,936.0% during the first quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker's stock valued at $56,850,000 after buying an additional 342,656 shares in the last quarter. Polar Capital Holdings Plc raised its position in CommVault Systems by 182.5% during the fourth quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker's stock valued at $54,774,000 after buying an additional 234,477 shares during the period. Finally, GAMMA Investing LLC lifted its stake in CommVault Systems by 20,945.1% in the 1st quarter. GAMMA Investing LLC now owns 211,714 shares of the software maker's stock worth $33,400,000 after acquiring an additional 210,708 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

CommVault Systems Price Performance

CVLT traded down $9.95 during midday trading on Friday, hitting $170.22. 539,999 shares of the company's stock traded hands, compared to its average volume of 426,983. The company has a market cap of $7.51 billion, a PE ratio of 100.23 and a beta of 0.75. The stock's fifty day simple moving average is $173.27 and its 200-day simple moving average is $166.57. CommVault Systems, Inc. has a one year low of $117.81 and a one year high of $192.01.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. CommVault Systems had a net margin of 7.64% and a return on equity of 32.31%. The company had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. During the same quarter in the prior year, the business posted $0.79 EPS. CommVault Systems's quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts expect that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CVLT shares. Piper Sandler lowered their target price on CommVault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Guggenheim restated a "neutral" rating on shares of CommVault Systems in a report on Wednesday, April 23rd. Oppenheimer upped their price objective on shares of CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. DA Davidson increased their target price on shares of CommVault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company lifted their target price on shares of CommVault Systems from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $175.25.

Insider Buying and Selling at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 1,709 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the sale, the chief executive officer now directly owns 469,648 shares of the company's stock, valued at approximately $82,188,400. This represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nicola Adamo sold 1,500 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total transaction of $254,610.00. Following the completion of the transaction, the director now owns 16,178 shares in the company, valued at $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,957 shares of company stock worth $859,428 over the last three months. Corporate insiders own 1.00% of the company's stock.

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.