Citigroup Inc. Has $13.05 Million Holdings in CommVault Systems, Inc. (NASDAQ:CVLT)

Key Points

• Citigroup Inc. increased its stake in CommVault Systems by 43.6% in the 1st quarter, holding a total of 82,720 shares valued at approximately $13.05 million.
• Analysts have raised their price targets for CommVault Systems, with estimates now ranging from $200 to $225, reflecting a positive outlook with a consensus rating of "Moderate Buy."
• CommVault Systems reported a 26% year-over-year revenue increase for the last quarter, totaling $281.98 million, and earnings per share of $1.01, surpassing expectations.

Citigroup Inc. increased its stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,720 shares of the software maker's stock after purchasing an additional 25,106 shares during the period. Citigroup Inc. owned 0.19% of CommVault Systems worth $13,050,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Quarry LP increased its position in shares of CommVault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after purchasing an additional 151 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of CommVault Systems by 101.3% in the first quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock worth $25,000 after buying an additional 80 shares during the period. Whipplewood Advisors LLC boosted its position in CommVault Systems by 584.0% during the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock valued at $27,000 after purchasing an additional 146 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in CommVault Systems during the first quarter valued at $27,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in 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 purchasing an additional 125 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Insider Activity

In related news, CEO Sanjay Mirchandani sold 1,709 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following the transaction, the chief executive officer directly owned 469,648 shares in the company, valued at $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary Merrill sold 1,748 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the completion of the sale, the insider owned 89,923 shares in the company, 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. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVLT shares. Piper Sandler boosted their price target on CommVault Systems from $168.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. KeyCorp boosted their price target on CommVault Systems from $195.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wells Fargo & Company boosted their price target on CommVault Systems from $190.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Oppenheimer boosted their price target on CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Guggenheim set a $220.00 price objective on CommVault Systems in a research note on Tuesday, July 29th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $205.63.

CommVault Systems Stock Performance

Shares of CommVault Systems stock traded down $3.33 during trading on Friday, reaching $180.02. The company's stock had a trading volume of 326,962 shares, compared to its average volume of 576,104. The business's fifty day moving average price is $177.81 and its 200-day moving average price is $170.83. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 100.01 and a beta of 0.70. CommVault Systems, Inc. has a one year low of $128.07 and a one year high of $200.68.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%. The firm had revenue of $281.98 million for the quarter, compared to analyst estimates of $267.83 million. CommVault Systems's quarterly revenue was up 26% compared to the same quarter last year. Sell-side analysts anticipate that CommVault Systems, Inc. will post 1.65 EPS for the current year.

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.