SteelPeak Wealth LLC Sells 409 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

SteelPeak Wealth LLC trimmed its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 12.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,935 shares of the software maker’s stock after selling 409 shares during the quarter. SteelPeak Wealth LLC’s holdings in Commvault Systems were worth $452,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. National Bank of Canada FI bought a new stake in shares of Commvault Systems during the 2nd quarter worth $30,000. Hexagon Capital Partners LLC lifted its position in shares of Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after buying an additional 196 shares during the last quarter. Signaturefd LLC lifted its position in shares of Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after buying an additional 309 shares during the last quarter. Finally, DT Investment Partners LLC bought a new stake in shares of Commvault Systems during the 2nd quarter worth $69,000. 93.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the transaction, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Commvault Systems Price Performance

NASDAQ CVLT opened at $156.19 on Friday. The business has a 50 day simple moving average of $149.87 and a 200 day simple moving average of $130.15. Commvault Systems, Inc. has a one year low of $64.32 and a one year high of $171.26. The stock has a market capitalization of $6.83 billion, a P/E ratio of 39.54 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The business had revenue of $224.67 million during the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter last year, the firm posted $0.29 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Equities analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of recent research reports. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Piper Sandler upped their target price on Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday. DA Davidson increased their price target on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, KeyCorp increased their price target on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.29.

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.