Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,341 shares of the software maker’s stock after selling 2,429 shares during the quarter. Legal & General Group Plc owned about 0.18% of Commvault Systems worth $11,822,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Commvault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock valued at $250,527,000 after purchasing an additional 607,643 shares during the period. Bank of Montreal Can raised its holdings in Commvault Systems by 83.6% in the 4th quarter. Bank of Montreal Can now owns 10,304 shares of the software maker’s stock valued at $1,555,000 after buying an additional 4,691 shares during the period. Polymer Capital Management US LLC acquired a new position in Commvault Systems in the fourth quarter valued at about $227,000. Sierra Summit Advisors LLC purchased a new position in Commvault Systems during the fourth quarter worth about $552,000. Finally, Russell Investments Group Ltd. increased its position in shares of Commvault Systems by 14.3% during the fourth quarter. Russell Investments Group Ltd. now owns 181,143 shares of the software maker’s stock valued at $27,361,000 after acquiring an additional 22,653 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Commvault Systems Stock Performance

CVLT stock opened at $151.06 on Thursday. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11. The company’s 50 day moving average price is $163.34 and its 200 day moving average price is $161.60. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 39.65 and a beta of 0.68.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was 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 $16,322,853.04. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of research analyst reports. Cantor Fitzgerald increased their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. StockNews.com raised Commvault Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Piper Sandler lowered their target price on Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.11.

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.