Clearbridge Investments LLC Trims Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Clearbridge Investments LLC trimmed its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,454 shares of the software maker’s stock after selling 7,189 shares during the period. Clearbridge Investments LLC owned about 0.85% of Commvault Systems worth $23,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVLT. Neuberger Berman Group LLC bought a new stake in shares of Commvault Systems in the 3rd quarter valued at about $29,077,000. Goldman Sachs Group Inc. boosted its holdings in shares of Commvault Systems by 119.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 587,148 shares of the software maker’s stock valued at $38,958,000 after buying an additional 319,722 shares in the last quarter. Millennium Management LLC boosted its stake in Commvault Systems by 417.9% in the 2nd quarter. Millennium Management LLC now owns 244,422 shares of the software maker’s stock worth $15,374,000 after purchasing an additional 197,225 shares in the last quarter. BlackRock Inc. boosted its stake in Commvault Systems by 1.8% in the 3rd quarter. BlackRock Inc. now owns 5,397,387 shares of the software maker’s stock worth $286,278,000 after purchasing an additional 93,452 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in Commvault Systems in the 3rd quarter worth approximately $4,557,000. 88.30% of the stock is currently owned by institutional investors.

Commvault Systems Stock Up 2.2 %

Shares of CVLT opened at $68.65 on Friday. The firm’s fifty day moving average is $59.62 and its two-hundred day moving average is $61.32. Commvault Systems, Inc. has a 52-week low of $50.26 and a 52-week high of $69.16.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Guggenheim initiated coverage on shares of Commvault Systems in a research note on Thursday, January 26th. They issued a “buy” rating and a $86.00 target price for the company. StockNews.com started coverage on shares of Commvault Systems in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Piper Sandler lifted their target price on shares of Commvault Systems from $60.00 to $65.00 in a report on Wednesday, May 3rd. Finally, 51job reissued a “maintains” rating on shares of Commvault Systems in a research note on Wednesday, May 3rd. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.20.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 22,310 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $58.92, for a total transaction of $1,314,505.20. Following the transaction, the chief executive officer now owns 417,826 shares of the company’s stock, valued at approximately $24,618,307.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sanjay Mirchandani sold 22,310 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $58.92, for a total value of $1,314,505.20. Following the sale, the chief executive officer now directly owns 417,826 shares in the company, valued at approximately $24,618,307.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 990 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $62.75, for a total transaction of $62,122.50. Following the completion of the sale, the director now owns 7,039 shares in the company, valued at $441,697.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,958 shares of company stock valued at $5,509,713. 1.00% of the stock is currently owned by insiders.

Commvault Systems Company Profile

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Commvault Systems, Inc engages in the provision of data protection and information management software applications and related services. Its products include Data Protection and insights, Storage, and Metallic BaaS. The firm also offers professional, managed, support, and training services. The company was founded in 1996 and is headquartered in Tinton Falls, NJ.