Nuveen Asset Management LLC reduced its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) by 29.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 396,474 shares of the software maker’s stock after selling 165,674 shares during the period. Nuveen Asset Management LLC owned about 0.89% of Commvault Systems worth $21,029,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake in Commvault Systems by 9.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,987 shares of the software maker’s stock worth $125,296,000 after buying an additional 168,300 shares during the period. State Street Corp increased its stake in Commvault Systems by 0.6% during the 1st quarter. State Street Corp now owns 1,575,587 shares of the software maker’s stock worth $104,540,000 after buying an additional 10,057 shares during the period. Goldman Sachs Group Inc. increased its stake in Commvault Systems by 28.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 752,224 shares of the software maker’s stock worth $47,315,000 after buying an additional 165,076 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Commvault Systems by 43.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 591,139 shares of the software maker’s stock valued at $31,354,000 after purchasing an additional 179,752 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Commvault Systems by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 484,908 shares of the software maker’s stock valued at $32,174,000 after purchasing an additional 6,146 shares during the last quarter. 88.30% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on CVLT. StockNews.com raised shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Piper Sandler dropped their price objective on shares of Commvault Systems from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 11th. Finally, Guggenheim began coverage on shares of Commvault Systems in a research report on Thursday, January 26th. They issued a “buy” rating and a $86.00 price objective on the stock. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.20.
Commvault Systems Trading Up 0.4 %
Insider Activity
In other news, CRO Blasio Riccardo Di sold 8,912 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $59.14, for a total value of $527,055.68. Following the completion of the transaction, the executive now owns 77,427 shares in the company, valued at approximately $4,579,032.78. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CRO Blasio Riccardo Di sold 8,912 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $59.14, for a total transaction of $527,055.68. Following the completion of the sale, the executive now owns 77,427 shares in the company, valued at approximately $4,579,032.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Allison Pickens sold 500 shares of the stock in a transaction on Friday, February 10th. The stock was sold at an average price of $63.80, for a total transaction of $31,900.00. Following the sale, the director now owns 8,029 shares of the company’s stock, valued at approximately $512,250.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,713 shares of company stock worth $578,027. Corporate insiders own 1.00% of the company’s stock.
About Commvault Systems
Commvault Systems, Inc engages in the provision of data protection and information management software applications and related services. Its products include Data Protection and insights, Storage, and Metallic BaaS. The firm also offers professional, managed, support, and training services. The company was founded in 1996 and is headquartered in Tinton Falls, NJ.
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