Twinbeech Capital LP Sells 35,466 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Twinbeech Capital LP reduced its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 62.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,084 shares of the software maker's stock after selling 35,466 shares during the period. Twinbeech Capital LP's holdings in Commvault Systems were worth $3,182,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Sherbrooke Park Advisers LLC bought a new position in Commvault Systems during the 4th quarter worth $280,000. Point72 Asia Singapore Pte. Ltd. increased its stake in Commvault Systems by 409.0% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker's stock worth $51,000 after acquiring an additional 274 shares during the period. Point72 Asset Management L.P. increased its stake in Commvault Systems by 278.3% during the 4th quarter. Point72 Asset Management L.P. now owns 8,700 shares of the software maker's stock worth $1,313,000 after acquiring an additional 6,400 shares during the period. Polar Capital Holdings Plc increased its stake in Commvault Systems by 182.5% during the 4th quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker's stock worth $54,774,000 after acquiring an additional 234,477 shares during the period. Finally, ProShare Advisors LLC increased its stake in Commvault Systems by 31.9% during the 4th quarter. ProShare Advisors LLC now owns 16,278 shares of the software maker's stock worth $2,457,000 after acquiring an additional 3,940 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Commvault Systems news, Director Nicola Adamo sold 1,500 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the transaction, the director now owns 16,178 shares of the company's stock, valued at $2,746,053.72. This represents a 8.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company's stock.

Commvault Systems Stock Down 0.6%

Shares of CVLT traded down $0.97 during midday trading 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 one year low of $105.76 and a one year high of $190.11. The company's fifty day simple moving average is $163.05 and its two-hundred day simple moving average is $164.90. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 45.78 and a beta of 0.71.

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

Wall Street Analysts Forecast Growth

CVLT has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. William Blair upgraded Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Cantor Fitzgerald raised their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Royal Bank of Canada lifted their price target on Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. Finally, Piper Sandler decreased their price target 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. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $175.25.

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.