Ieq Capital LLC Takes $382,000 Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Ieq Capital LLC purchased a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,532 shares of the software maker’s stock, valued at approximately $382,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVLT. Capital Performance Advisors LLP bought a new position in Commvault Systems during the third quarter valued at $33,000. TFC Financial Management Inc. grew its holdings in Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after purchasing an additional 300 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Commvault Systems in the 3rd quarter worth about $71,000. TD Private Client Wealth LLC bought a new stake in Commvault Systems in the third quarter worth about $105,000. Finally, Blue Trust Inc. boosted its position in shares of Commvault Systems by 37,400.0% during the fourth quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock valued at $113,000 after buying an additional 748 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVLT. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. KeyCorp increased their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. StockNews.com raised shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Finally, Cantor Fitzgerald boosted their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total value of $2,290,655.28. Following the completion of the transaction, the chief executive officer now directly owns 427,231 shares of the company’s stock, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Commvault Systems Stock Performance

NASDAQ CVLT opened at $168.63 on Friday. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 44.26 and a beta of 0.65. The company’s 50-day simple moving average is $164.30 and its two-hundred day simple moving average is $159.74.

Commvault Systems 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.