Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) Insider Sells $614,471.78 in Stock

Commvault Systems, Inc. (NASDAQ:CVLT) insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Commvault Systems Trading Down 7.7 %

Shares of Commvault Systems stock opened at $170.61 on Monday. The firm has a market cap of $7.51 billion, a P/E ratio of 44.78 and a beta of 0.65. Commvault Systems, Inc. has a 12 month low of $92.36 and a 12 month high of $190.11. The stock’s fifty day moving average price is $164.01 and its 200-day moving average price is $159.38.

Hedge Funds Weigh In On Commvault Systems

Several institutional investors have recently made changes to their positions in CVLT. Quarry LP increased its stake in shares of Commvault Systems by 888.2% during the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after buying an additional 151 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Commvault Systems during the third quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Commvault Systems by 409.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker’s stock valued at $51,000 after buying an additional 274 shares during the period. TFC Financial Management Inc. increased its stake in shares of Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after buying an additional 300 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of Commvault Systems during the third quarter valued at $71,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of analyst reports. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Royal Bank of Canada raised their price target on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. StockNews.com downgraded Commvault Systems from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Finally, KeyCorp raised their price target on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Commvault Systems presently has an average rating of “Hold” and an average target price of $156.44.

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.