Sanjay Mirchandani Sells 6,857 Shares of CommVault Systems (NASDAQ:CVLT) Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 6,857 shares of the firm’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 sale, the chief executive officer owned 257,676 shares in the company, valued at $36,796,132.80. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.

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 stock was sold at an average price of $143.98, for a total value of $1,790,679.26.

CommVault Systems Price Performance

NASDAQ:CVLT opened at $131.63 on Friday. The business’s 50-day simple moving average is $138.49 and its two-hundred day simple moving average is $109.32. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $198.18. The stock has a market cap of $5.45 billion, a PE ratio of 83.84 and a beta of 0.81. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.26. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The firm had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. During the same quarter in the prior year, the company posted $1.01 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, analysts forecast that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal year.

Hedge Funds Weigh In On CommVault Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of CommVault Systems during the 2nd quarter valued at about $855,420,000. Vanguard Group Inc. grew its position in CommVault Systems by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock worth $711,492,000 after acquiring an additional 240,093 shares in the last quarter. First Trust Advisors LP grew its position in CommVault Systems by 25.5% in the fourth quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock worth $192,683,000 after acquiring an additional 312,178 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in CommVault Systems by 36.2% during the first quarter. Pictet Asset Management Holding SA now owns 1,239,225 shares of the software maker’s stock worth $96,447,000 after acquiring an additional 329,243 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position in CommVault Systems by 34.5% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock valued at $132,515,000 after purchasing an additional 270,902 shares during the period. 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: Analysts maintain a consensus “Moderate Buy” rating, with an average price target of approximately $152.47. Recent targets include $155 from Stephens and $182 from Truist, although Piper Sandler downgraded the stock to neutral with a $133 target. CommVault Systems Given Consensus Rating of Moderate Buy by Analysts
• Positive Sentiment: Commvault’s latest quarterly results remain a supportive backdrop: earnings of $1.42 per share exceeded estimates by $0.26, revenue reached $314.13 million, and sales increased 11.4% year over year. CommVault Systems financial and analyst information
• Neutral Sentiment: CEO Sanjay Mirchandani sold 24,134 shares worth roughly $3.47 million from August 17–19. CFO Gary Merrill sold 3,147 shares worth about $451,000, while Chief Accounting Officer Danielle Abrahamsen sold 996 shares worth approximately $143,000. All reported sales were tied to tax withholding and left the executives with substantial remaining holdings. CommVault Systems insider buying and selling
• Negative Sentiment: The concentration of insider selling may create short-term supply and sentiment pressure, particularly with CVLT trading below its 50-day moving average and at a high valuation of more than 80 times earnings. Nevertheless, the planned, tax-related nature of the sales reduces the bearish significance.

Analysts Set New Price Targets

CVLT has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $130.00 price objective on shares of CommVault Systems in a report on Wednesday, July 29th. DA Davidson set a $175.00 target price on shares of CommVault Systems in a report on Wednesday, July 29th. UBS Group restated a “neutral” rating on shares of CommVault Systems in a research report on Monday, July 27th. Wall Street Zen cut shares of CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, KeyCorp boosted their price target on shares of CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.47.

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.