Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sells $299,075.00 in Stock

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 1,709 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $299,075.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Commvault Systems Trading Up 2.4%

CVLT traded up $4.23 during midday trading on Tuesday, hitting $178.66. The company’s stock had a trading volume of 418,780 shares, compared to its average volume of 421,334. The firm has a market cap of $7.88 billion, a P/E ratio of 46.89 and a beta of 0.71. The firm has a 50-day moving average price of $163.83 and a two-hundred day moving average price of $165.03. Commvault Systems, Inc. has a 52-week low of $105.76 and a 52-week high of $190.11.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. The firm had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. Commvault Systems’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 EPS. On average, equities analysts expect that Commvault Systems, Inc. will post 1.65 EPS for the current year.

Hedge Funds Weigh In On Commvault Systems

A number of institutional investors have recently made changes to their positions in CVLT. Quarry LP raised its position in shares of Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after purchasing an additional 151 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Commvault Systems by 101.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker’s stock valued at $25,000 after purchasing an additional 80 shares in the last quarter. Whipplewood Advisors LLC raised its position in shares of Commvault Systems by 584.0% in the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock valued at $27,000 after purchasing an additional 146 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Commvault Systems in the 1st quarter valued at approximately $27,000. Finally, Brooklyn Investment Group raised its position in shares of Commvault Systems by 8,550.0% in the 1st quarter. Brooklyn Investment Group now owns 173 shares of the software maker’s stock valued at $27,000 after purchasing an additional 171 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVLT has been the subject of several recent analyst reports. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, April 23rd. KeyCorp dropped 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 note on Thursday, April 17th. Piper Sandler decreased their price objective on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. DA Davidson raised their target price on Commvault Systems from $185.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Commvault Systems has a consensus rating of “Moderate Buy” and a consensus target price of $175.25.

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.