Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 16,484 Shares of Stock

Posted by Defense World Staff on May 24th, 2023

Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) CEO Sanjay Mirchandani sold 16,484 shares of Commvault Systems stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $67.22, for a total value of $1,108,054.48. Following the sale, the chief executive officer now directly owns 479,274 shares in the company, valued at $32,216,798.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sanjay Mirchandani also recently made the following trade(s):

On Thursday, May 18th, Sanjay Mirchandani sold 7,791 shares of Commvault Systems stock. The shares were sold at an average price of $64.50, for a total value of $502,519.50.
On Wednesday, March 8th, Sanjay Mirchandani sold 22,358 shares of Commvault Systems stock. The shares were sold at an average price of $57.74, for a total value of $1,290,950.92.
On Monday, March 6th, Sanjay Mirchandani sold 22,310 shares of Commvault Systems stock. The shares were sold at an average price of $58.92, for a total value of $1,314,505.20.

Commvault Systems Trading Down 0.5 %

Shares of NASDAQ CVLT opened at $66.91 on Wednesday. The stock has a 50 day simple moving average of $59.37 and a 200-day simple moving average of $61.28. The company has a market cap of $2.94 billion, a PE ratio of -82.60, a P/E/G ratio of 6.46 and a beta of 0.60. Commvault Systems, Inc. has a 12-month low of $50.26 and a 12-month high of $69.16.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Commvault Systems

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Commvault Systems by 70.7% in the first quarter. JPMorgan Chase & Co. now owns 551,132 shares of the software maker’s stock worth $31,271,000 after purchasing an additional 228,207 shares during the period. Starboard Value LP lifted its position in Commvault Systems by 2.8% in the first quarter. Starboard Value LP now owns 1,588,554 shares of the software maker’s stock worth $90,135,000 after purchasing an additional 42,554 shares during the period. Thrivent Financial for Lutherans lifted its position in Commvault Systems by 80.6% in the first quarter. Thrivent Financial for Lutherans now owns 73,887 shares of the software maker’s stock worth $4,192,000 after purchasing an additional 32,986 shares during the period. Hancock Whitney Corp lifted its position in Commvault Systems by 7.5% in the first quarter. Hancock Whitney Corp now owns 14,687 shares of the software maker’s stock worth $833,000 after purchasing an additional 1,027 shares during the period. Finally, First Trust Advisors LP lifted its position in Commvault Systems by 140.7% in the first quarter. First Trust Advisors LP now owns 37,284 shares of the software maker’s stock worth $2,115,000 after purchasing an additional 21,792 shares during the period. 88.30% of the stock is currently owned by institutional investors and hedge funds.

About Commvault Systems

(Get Rating)

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.