Commvault Systems, Inc. (NASDAQ:CVLT) Shares Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd raised its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 37.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,421 shares of the software maker’s stock after acquiring an additional 6,433 shares during the quarter. Point72 Hong Kong Ltd owned approximately 0.05% of Commvault Systems worth $3,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of Commvault Systems by 504.6% in the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock valued at $1,582,000 after purchasing an additional 10,863 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Commvault Systems in the second quarter worth $2,221,000. Charles Schwab Investment Management Inc. grew its stake in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after acquiring an additional 120,779 shares in the last quarter. Ellsworth Advisors LLC purchased a new stake in shares of Commvault Systems during the second quarter worth $495,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Commvault Systems in the third quarter valued at $1,126,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the transaction, the chief executive officer now owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now directly owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. This represents a 1.61 % 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.

Commvault Systems Stock Down 0.0 %

Shares of NASDAQ CVLT opened at $171.59 on Friday. The stock has a market cap of $7.50 billion, a PE ratio of 43.44 and a beta of 0.59. Commvault Systems, Inc. has a 52-week low of $72.76 and a 52-week high of $178.72. The business has a 50-day moving average price of $158.48 and a 200 day moving average price of $140.31.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. During the same period last year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts anticipate 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 several analyst reports. Oppenheimer assumed coverage on Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. DA Davidson boosted their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and a consensus target price of $151.25.

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.