Covestor Ltd Sells 127 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Covestor Ltd trimmed its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 9.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,191 shares of the software maker’s stock after selling 127 shares during the period. Covestor Ltd’s holdings in Commvault Systems were worth $121,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Commvault Systems in the fourth quarter valued at about $67,000. Daiwa Securities Group Inc. grew its holdings in shares of Commvault Systems by 700.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock valued at $81,000 after purchasing an additional 700 shares during the last quarter. Ulland Investment Advisors LLC bought a new position in Commvault Systems in the 1st quarter valued at approximately $180,000. Central Pacific Bank Trust Division bought a new stake in shares of Commvault Systems during the first quarter worth $187,000. Finally, Blair William & Co. IL acquired a new stake in shares of Commvault Systems during the 1st quarter valued at $203,000. 93.50% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Vivie Lee sold 2,500 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the completion of the sale, the director now directly owns 13,589 shares of the company’s stock, valued at approximately $1,524,549.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sanjay Mirchandani sold 17,949 shares of Commvault Systems stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $110.63, for a total value of $1,985,697.87. Following the sale, the chief executive officer now owns 514,383 shares of the company’s stock, valued at approximately $56,906,191.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vivie Lee sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $112.19, for a total value of $280,475.00. Following the completion of the transaction, the director now owns 13,589 shares in the company, valued at approximately $1,524,549.91. The disclosure for this sale can be found here. Insiders have sold 59,816 shares of company stock worth $6,613,874 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded down $0.35 during trading on Tuesday, reaching $125.53. 98,644 shares of the stock were exchanged, compared to its average volume of 331,095. Commvault Systems, Inc. has a 1-year low of $63.70 and a 1-year high of $127.94. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 33.48 and a beta of 0.61. The stock has a fifty day moving average of $116.84 and a two-hundred day moving average of $102.30.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, April 30th. The software maker reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. The company had revenue of $223.29 million for the quarter, compared to analyst estimates of $213.00 million. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. Sell-side analysts forecast that Commvault Systems, Inc. will post 1.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Royal Bank of Canada increased their target price on Commvault Systems from $97.00 to $112.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Piper Sandler increased their price target on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Wells Fargo & Company upped their price target on shares of Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Finally, Guggenheim restated a “buy” rating and set a $122.00 target price on shares of Commvault Systems in a research report on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $124.29.

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.