MetLife Investment Management LLC Grows Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

MetLife Investment Management LLC boosted its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,119 shares of the software maker's stock after buying an additional 3,574 shares during the quarter. MetLife Investment Management LLC owned approximately 0.11% of Commvault Systems worth $7,563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Commvault Systems by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock valued at $850,613,000 after purchasing an additional 54,562 shares during the period. Renaissance Technologies LLC grew its position in shares of Commvault Systems by 1.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock valued at $288,115,000 after purchasing an additional 24,900 shares during the period. Invesco Ltd. grew its position in shares of Commvault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after purchasing an additional 607,643 shares during the period. Geode Capital Management LLC grew its position in shares of Commvault Systems by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock valued at $194,681,000 after purchasing an additional 43,088 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock valued at $98,479,000 after purchasing an additional 555,656 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVLT. Cantor Fitzgerald lifted their target price on shares of Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday. StockNews.com upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. KeyCorp lowered their price target 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. Finally, Piper Sandler lowered their price target 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. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Commvault Systems currently has an average rating of "Moderate Buy" and a consensus target price of $158.00.

Insiders Place Their Bets

In other news, insider Gary Merrill sold 3,287 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the sale, the insider now directly owns 87,316 shares of the company's stock, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now directly owns 427,231 shares in the company, valued at $79,447,876.76. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Commvault Systems Trading Up 1.3 %

CVLT stock traded up $2.19 during trading on Friday, reaching $165.51. 413,106 shares of the stock were exchanged, compared to its average volume of 411,825. The business has a 50 day moving average price of $159.28 and a 200-day moving average price of $161.65. Commvault Systems, Inc. has a 1 year low of $97.63 and a 1 year high of $190.11. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 43.44 and a beta of 0.68.

About Commvault Systems

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.