Gary Merrill Sells 3,287 Shares of Commvault Systems, Inc. (NASDAQ:CVLT) Stock

Commvault Systems, Inc. (NASDAQ:CVLT) insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the sale, the insider now directly owns 87,316 shares in the company, valued at approximately $16,322,853.04. The trade was a 3.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Commvault Systems Stock Down 7.7 %

Commvault Systems stock opened at $170.61 on Monday. Commvault Systems, Inc. has a 52 week low of $92.36 and a 52 week high of $190.11. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 44.78 and a beta of 0.65. The stock has a 50-day moving average price of $164.01 and a 200 day moving average price of $159.38.

Wall Street Analysts Forecast Growth

CVLT has been the topic of a number of recent research reports. Oppenheimer started coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Guggenheim reissued a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Cantor Fitzgerald raised their price target on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. 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 report on Wednesday, October 30th. Finally, KeyCorp raised their price target on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Commvault Systems presently has a consensus rating of “Hold” and an average target price of $156.44.

Institutional Investors Weigh In On Commvault Systems

A number of institutional investors and hedge funds have recently modified their holdings of CVLT. Quarry LP lifted its holdings in shares of Commvault Systems by 888.2% during the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares during the period. Capital Performance Advisors LLP purchased a new position in Commvault Systems during the third quarter valued at approximately $33,000. Point72 Asia Singapore Pte. Ltd. raised its position in 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 acquiring an additional 274 shares in the last quarter. TFC Financial Management Inc. raised its position in 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 acquiring an additional 300 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Commvault Systems during the third quarter valued at approximately $71,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.