Banco Santander S.A. Acquires 1,470 Shares of CommVault Systems, Inc. (NASDAQ:CVLT)

Key Points

• Banco Santander S.A. has increased its stake in CommVault Systems, Inc. by 26.6%, now holding 6,988 shares valued at approximately $1.10 million.
• Institutional investors and hedge funds collectively own 93.50% of CommVault Systems' stock, indicating strong confidence in the company among major investors.
• Several brokerages have raised their price targets for CommVault Systems, with predictions ranging from $170.00 to $220.00, reflecting a consensus rating of "Moderate Buy" among analysts.

Banco Santander S.A. lifted its position in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 26.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,988 shares of the software maker's stock after purchasing an additional 1,470 shares during the period. Banco Santander S.A.'s holdings in CommVault Systems were worth $1,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP increased its stake in shares of CommVault Systems by 888.2% during the fourth quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after acquiring an additional 151 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of CommVault Systems by 101.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Whipplewood Advisors LLC raised its stake in CommVault Systems by 584.0% during the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock worth $27,000 after acquiring an additional 146 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of CommVault Systems in the first quarter valued at approximately $27,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of CommVault Systems by 208.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker's stock valued at $29,000 after acquiring an additional 125 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CVLT shares. DA Davidson upped their price target on shares of CommVault Systems from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Guggenheim set a $220.00 price objective on shares of CommVault Systems in a report on Tuesday, July 29th. Piper Sandler boosted their price target on shares of CommVault Systems from $168.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Oppenheimer boosted their price target on CommVault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada raised their target price on shares of CommVault Systems from $185.00 to $217.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.63.

Insider Buying and Selling at CommVault Systems

In related news, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the completion of the transaction, the chief executive officer directly owned 469,648 shares of the company's stock, valued at approximately $82,188,400. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 1,748 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the sale, the insider owned 89,923 shares of the company's stock, valued at approximately $15,728,431.93. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

CommVault Systems Stock Performance

CommVault Systems stock traded up $0.26 during midday trading on Thursday, reaching $185.83. The company's stock had a trading volume of 464,162 shares, compared to its average volume of 496,097. The firm has a market capitalization of $8.26 billion, a PE ratio of 103.24 and a beta of 0.70. The stock's 50 day simple moving average is $177.53 and its 200 day simple moving average is $169.45. CommVault Systems, Inc. has a fifty-two week low of $128.07 and a fifty-two week high of $200.68.

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.