PEAK6 LLC bought a new stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,604 shares of the software maker's stock, valued at approximately $846,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. TFC Financial Management Inc. lifted its stake in Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock valued at $61,000 after purchasing an additional 300 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Commvault Systems by 37,400.0% during the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker's stock valued at $113,000 after buying an additional 748 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Commvault Systems during the 4th quarter valued at $127,000. GAMMA Investing LLC grew its stake in shares of Commvault Systems by 13.7% during the 4th quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker's stock worth $152,000 after acquiring an additional 121 shares during the period. Finally, AlphaQuest LLC increased its holdings in Commvault Systems by 69.1% in the 4th quarter. AlphaQuest LLC now owns 1,023 shares of the software maker's stock worth $154,000 after acquiring an additional 418 shares during the last quarter. 93.50% of the stock is owned by institutional investors.
Commvault Systems Stock Up 1.3 %
NASDAQ:CVLT traded up $2.19 during trading hours on Friday, hitting $165.51. 413,106 shares of the company's stock traded hands, compared to its average volume of 410,914. The firm has a market cap of $7.28 billion, a P/E ratio of 43.44 and a beta of 0.68. The business's fifty day simple moving average is $159.28 and its two-hundred day simple moving average is $161.63. Commvault Systems, Inc. has a 52 week low of $97.10 and a 52 week high of $190.11.
Insider Activity
In other news, CEO Sanjay Mirchandani sold 12,318 shares of the firm's stock in a transaction 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 sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This trade represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 3,287 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares of the company's stock, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on CVLT. Piper Sandler cut their target price on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a report on Thursday, January 30th. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a report on Wednesday. StockNews.com upgraded Commvault Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Finally, KeyCorp reduced their price target on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Five investment 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, the stock has an average rating of "Moderate Buy" and an average target price of $158.00.
View Our Latest Analysis on Commvault Systems
Commvault Systems Company Profile
(
Free Report)
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.
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