Two Sigma Investments LP Sells 16,713 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Two Sigma Investments LP lowered its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 32.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,709 shares of the software maker's stock after selling 16,713 shares during the quarter. Two Sigma Investments LP owned approximately 0.08% of Commvault Systems worth $5,238,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Quarry LP raised its holdings in shares of Commvault Systems by 888.2% in the fourth quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after buying an additional 151 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted 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 last quarter. TFC Financial Management Inc. increased its holdings in shares of Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after acquiring an additional 300 shares in the last quarter. GeoWealth Management LLC bought a new position in Commvault Systems in the fourth quarter valued at approximately $101,000. Finally, Blue Trust Inc. increased its holdings in Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock worth $113,000 after purchasing an additional 748 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Insiders Place Their Bets

In related news, Director Nicola Adamo sold 1,500 shares of the business's stock in a transaction that occurred on 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 sale, the director now directly owns 16,178 shares in the company, valued at approximately $2,746,053.72. The trade was a 8.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of Commvault Systems stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the transaction, the chief executive officer now directly owns 469,648 shares of the company's stock, valued at $82,188,400. This represents a 0.36% 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 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Commvault Systems Price Performance

CVLT traded up $5.49 during trading on Friday, hitting $182.86. The stock had a trading volume of 950,030 shares, compared to its average volume of 425,026. The company has a 50 day moving average price of $164.48 and a 200-day moving average price of $165.11. Commvault Systems, Inc. has a one year low of $107.12 and a one year high of $190.11. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 47.99 and a beta of 0.71.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS 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 the consensus estimate of $262.52 million. During the same period in the prior year, the company posted $0.79 earnings per share. Commvault Systems's revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts predict that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVLT. DA Davidson raised their target price on shares of Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded Commvault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Wells Fargo & Company upped their target price 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 lowered their price target on 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 dropped their price objective on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Commvault Systems has an average rating of "Moderate Buy" and an average target price of $175.25.

Commvault Systems 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.