Dark Forest Capital Management LP Sells 718 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Dark Forest Capital Management LP decreased its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 26.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,033 shares of the software maker’s stock after selling 718 shares during the quarter. Dark Forest Capital Management LP’s holdings in Commvault Systems were worth $247,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CVLT. Norges Bank purchased a new stake in Commvault Systems in the 4th quarter valued at about $24,134,000. UBS Group AG increased its position in shares of Commvault Systems by 71.3% during the fourth quarter. UBS Group AG now owns 77,424 shares of the software maker’s stock valued at $6,182,000 after acquiring an additional 32,217 shares during the last quarter. US Bancorp DE lifted its holdings in Commvault Systems by 5.8% during the fourth quarter. US Bancorp DE now owns 10,063 shares of the software maker’s stock worth $804,000 after acquiring an additional 556 shares during the period. Quantedge Capital Pte Ltd boosted its position in Commvault Systems by 0.6% in the fourth quarter. Quantedge Capital Pte Ltd now owns 53,800 shares of the software maker’s stock worth $4,296,000 after purchasing an additional 300 shares during the last quarter. Finally, Circumference Group LLC bought a new position in Commvault Systems in the 4th quarter valued at $2,843,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Price Performance

NASDAQ:CVLT opened at $151.82 on Monday. The company has a market cap of $6.64 billion, a P/E ratio of 40.38 and a beta of 0.60. Commvault Systems, Inc. has a 1 year low of $63.70 and a 1 year high of $157.13. The stock’s fifty day moving average price is $145.94 and its two-hundred day moving average price is $121.87.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The business had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. During the same quarter in the previous year, the firm earned $0.29 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVLT. DA Davidson boosted their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Sandler raised their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada raised their target price on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Finally, KeyCorp upped their price target on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Commvault Systems has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the sale, the director now owns 7,131 shares in the company, valued at $1,097,389.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

About Commvault Systems

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.