CommVault Systems, Inc. (NASDAQ:CVLT – Get Free Report) CEO Sanjay Mirchandani sold 6,857 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $142.80, for a total transaction of $979,179.60. Following the completion of the sale, the chief executive officer owned 257,676 shares of the company’s stock, valued at approximately $36,796,132.80. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.
Sanjay Mirchandani also recently made the following trade(s):
- On Tuesday, August 18th, Sanjay Mirchandani sold 4,840 shares of CommVault Systems stock. The stock was sold at an average price of $143.64, for a total transaction of $695,217.60.
- On Monday, August 17th, Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock. The shares were sold at an average price of $143.98, for a total transaction of $1,790,679.26.
CommVault Systems Stock Performance
Shares of CVLT traded down $5.49 during mid-day trading on Wednesday, hitting $137.32. 449,257 shares of the company’s stock were exchanged, compared to its average volume of 935,905. CommVault Systems, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $198.18. The firm has a market capitalization of $5.69 billion, a P/E ratio of 87.46 and a beta of 0.81. The business’s 50 day moving average is $138.16 and its two-hundred day moving average is $108.64. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 16.94.
Institutional Trading of CommVault Systems
Institutional investors have recently added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC acquired a new position in CommVault Systems during the second quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of CommVault Systems during the 2nd quarter valued at approximately $27,000. Silvant Capital Management LLC purchased a new stake in shares of CommVault Systems during the 2nd quarter worth approximately $30,000. State of Wyoming acquired a new stake in shares of CommVault Systems in the 2nd quarter worth approximately $35,000. Finally, Essential Partners LLC grew its holdings in shares of CommVault Systems by 9,920.0% in the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock worth $39,000 after acquiring an additional 496 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. Scotiabank restated a “sector perform” rating and set a $130.00 price objective on shares of CommVault Systems in a research report on Wednesday, July 29th. Wolfe Research started coverage on shares of CommVault Systems in a research note on Friday, May 1st. They set a “peer perform” rating on the stock. Mizuho increased their price target on shares of CommVault Systems from $140.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Piper Sandler lowered CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price objective on the stock. in a report on Tuesday, July 28th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $130.00 target price on shares of CommVault Systems in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, CommVault Systems has an average rating of “Moderate Buy” and a consensus price target of $152.47.
Read Our Latest Research Report on CVLT
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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