Commvault Systems, Inc. (NASDAQ:CVLT – Get Free Report) CFO Gary Merrill sold 947 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $69.61, for a total transaction of $65,920.67. Following the transaction, the chief financial officer now directly owns 93,604 shares of the company’s stock, valued at approximately $6,515,774.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Gary Merrill also recently made the following trade(s):
- On Monday, August 21st, Gary Merrill sold 298 shares of Commvault Systems stock. The stock was sold at an average price of $68.94, for a total transaction of $20,544.12.
- On Tuesday, May 23rd, Gary Merrill sold 2,566 shares of Commvault Systems stock. The stock was sold at an average price of $67.17, for a total transaction of $172,358.22.
Commvault Systems Stock Down 0.9 %
Shares of NASDAQ:CVLT opened at $68.35 on Tuesday. The firm’s 50 day moving average price is $72.54 and its 200 day moving average price is $65.33. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -112.05 and a beta of 0.60. Commvault Systems, Inc. has a fifty-two week low of $50.26 and a fifty-two week high of $78.80.
Institutional Trading of Commvault Systems
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVLT. Neuberger Berman Group LLC raised its holdings in Commvault Systems by 113.5% during the fourth quarter. Neuberger Berman Group LLC now owns 1,170,171 shares of the software maker’s stock worth $73,534,000 after purchasing an additional 621,967 shares in the last quarter. Morgan Stanley boosted its position in shares of Commvault Systems by 268.0% during the 4th quarter. Morgan Stanley now owns 808,162 shares of the software maker’s stock worth $50,785,000 after purchasing an additional 588,533 shares in the last quarter. BlackRock Inc. raised its stake in shares of Commvault Systems by 8.6% during the 2nd quarter. BlackRock Inc. now owns 6,019,103 shares of the software maker’s stock worth $437,107,000 after buying an additional 478,120 shares during the last quarter. Norges Bank acquired a new position in Commvault Systems in the 4th quarter valued at about $24,386,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Commvault Systems by 119.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 587,148 shares of the software maker’s stock valued at $38,958,000 after acquiring an additional 319,722 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on CVLT. Lake Street Capital raised their price objective on shares of Commvault Systems from $62.00 to $72.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $68.00 to $80.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd. StockNews.com assumed coverage on shares of Commvault Systems in a research note on Thursday, August 17th. They issued a “strong-buy” rating for the company. 51job reaffirmed a “maintains” rating on shares of Commvault Systems in a report on Wednesday, May 3rd. Finally, Piper Sandler raised their target price on shares of Commvault Systems from $60.00 to $65.00 in a report on Wednesday, May 3rd. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.60.
Read Our Latest Stock Analysis on Commvault Systems
Commvault Systems Company 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.
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