CommVault Systems, Inc. (NASDAQ:CVLT – Get Free Report) CFO Gary Merrill sold 3,777 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $107.39, for a total value of $405,612.03. Following the transaction, the chief financial officer owned 77,329 shares of the company’s stock, valued at approximately $8,304,361.31. This trade represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Gary Merrill also recently made the following trade(s):
- On Tuesday, May 26th, Gary Merrill sold 4,554 shares of CommVault Systems stock. The shares were sold at an average price of $106.70, for a total value of $485,911.80.
- On Tuesday, May 19th, Gary Merrill sold 4,560 shares of CommVault Systems stock. The shares were sold at an average price of $105.10, for a total value of $479,256.00.
- On Monday, May 18th, Gary Merrill sold 3,098 shares of CommVault Systems stock. The shares were sold at an average price of $104.54, for a total value of $323,864.92.
CommVault Systems Trading Down 0.8%
Shares of NASDAQ:CVLT opened at $107.24 on Thursday. The stock has a 50 day moving average of $92.09 and a 200 day moving average of $103.52. The company has a market cap of $4.42 billion, a PE ratio of 67.45 and a beta of 0.77. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54. CommVault Systems, Inc. has a 12-month low of $71.75 and a 12-month high of $200.68.
Wall Street Analyst Weigh In
CVLT has been the subject of several recent analyst reports. Wolfe Research initiated coverage on CommVault Systems in a research note on Friday, May 1st. They issued a “peer perform” rating for the company. KeyCorp upped their price target on CommVault Systems from $108.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. DA Davidson restated a “buy” rating and issued a $125.00 price target on shares of CommVault Systems in a research note on Monday, April 13th. Wall Street Zen downgraded CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Guggenheim dropped their price target on CommVault Systems from $200.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.00.
Read Our Latest Stock Analysis on CVLT
Institutional Trading of CommVault Systems
Several hedge funds have recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its holdings in shares of CommVault Systems by 43.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock worth $46,000 after acquiring an additional 74 shares in the last quarter. JSF Financial LLC raised its holdings in shares of CommVault Systems by 1.1% during the 3rd quarter. JSF Financial LLC now owns 7,345 shares of the software maker’s stock worth $1,387,000 after acquiring an additional 82 shares in the last quarter. Assetmark Inc. raised its holdings in shares of CommVault Systems by 33.6% during the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock worth $41,000 after acquiring an additional 82 shares in the last quarter. Diversify Wealth Management LLC raised its holdings in shares of CommVault Systems by 1.6% during the 3rd quarter. Diversify Wealth Management LLC now owns 7,060 shares of the software maker’s stock worth $1,333,000 after acquiring an additional 110 shares in the last quarter. Finally, Optiver Holding B.V. raised its holdings in shares of CommVault Systems by 62.6% during the 3rd quarter. Optiver Holding B.V. now owns 291 shares of the software maker’s stock worth $55,000 after acquiring an additional 112 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.
More CommVault Systems News
Here are the key news stories impacting CommVault Systems this week:
- Positive Sentiment: Commvault is scheduled to present at the William Blair Growth Conference on June 2, which may help reinforce its growth story and keep investor attention on the business. Commvault to Present at the William Blair Growth Conference
- Neutral Sentiment: Chief Financial Officer Gary Merrill and Chief Accounting Officer Danielle Nicole Abrahamsen disclosed small share sales under pre-arranged 10b5-1 plans tied to tax withholding on equity awards, which is routine and not usually viewed as a major negative signal.
- Negative Sentiment: Several law firms publicly promoted class-action claims against Commvault, reinforcing the market’s focus on the pending securities-fraud case and the earlier sharp selloff tied to weaker-than-expected ARR growth. CVLT Shareholder Alert: Investors With Losses May Seek to Lead the Class Action in Commvault Systems, Inc. Securities Lawsuit
CommVault Systems Company Profile
Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.
Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.
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