D. E. Shaw & Co. Inc. Sells 36,175 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

D. E. Shaw & Co. Inc. trimmed its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 70.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,296 shares of the software maker's stock after selling 36,175 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Commvault Systems were worth $2,308,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Benjamin Edwards Inc. increased its holdings in Commvault Systems by 3.3% in the fourth quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker's stock valued at $272,000 after purchasing an additional 58 shares during the period. Hancock Whitney Corp increased its holdings in Commvault Systems by 1.0% in the fourth quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker's stock valued at $872,000 after purchasing an additional 60 shares during the period. Nisa Investment Advisors LLC grew its holdings in Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker's stock worth $296,000 after acquiring an additional 66 shares during the period. CIBC Asset Management Inc grew its holdings in Commvault Systems by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker's stock worth $213,000 after acquiring an additional 75 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Commvault Systems by 4.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker's stock worth $368,000 after acquiring an additional 93 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Commvault Systems

In related news, Director Nicola Adamo sold 1,500 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $169.74, for a total value of $254,610.00. Following the transaction, the director now owns 16,178 shares of the company's stock, valued at approximately $2,746,053.72. This trade represents a 8.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen upgraded Commvault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company increased their price target on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Piper Sandler cut their price objective 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. 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 research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.25.

Commvault Systems Trading Down 0.6%

NASDAQ CVLT traded down $0.97 during trading hours on Friday, hitting $174.43. The company's stock had a trading volume of 265,548 shares, compared to its average volume of 420,398. Commvault Systems, Inc. has a 52 week low of $105.76 and a 52 week high of $190.11. The company has a market capitalization of $7.70 billion, a PE ratio of 45.78 and a beta of 0.71. The company's 50-day simple moving average is $163.05 and its two-hundred day simple moving average is $164.90.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The business had revenue of $275.04 million for the quarter, compared to analysts' expectations of $262.52 million. During the same quarter last year, the firm earned $0.79 EPS. The firm's revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal 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.