Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 182,470 shares of the software maker’s stock after selling 6,438 shares during the quarter. Principal Financial Group Inc. owned approximately 0.41% of Commvault Systems worth $11,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in Commvault Systems by 64.0% during the second quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock valued at $32,000 after buying an additional 199 shares during the period. Quantbot Technologies LP acquired a new stake in Commvault Systems during the second quarter valued at $64,000. Lazard Asset Management LLC grew its position in Commvault Systems by 63.1% during the first quarter. Lazard Asset Management LLC now owns 1,321 shares of the software maker’s stock valued at $87,000 after buying an additional 511 shares during the period. Parallel Advisors LLC grew its position in Commvault Systems by 81.1% during the fourth quarter. Parallel Advisors LLC now owns 1,552 shares of the software maker’s stock valued at $98,000 after buying an additional 695 shares during the period. Finally, Point72 Hong Kong Ltd grew its position in Commvault Systems by 574.9% during the third quarter. Point72 Hong Kong Ltd now owns 2,207 shares of the software maker’s stock valued at $117,000 after buying an additional 1,880 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sanjay Mirchandani sold 22,358 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $57.74, for a total transaction of $1,290,950.92. Following the completion of the sale, the chief executive officer now directly owns 373,110 shares in the company, valued at $21,543,371.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Commvault Systems news, CEO Sanjay Mirchandani sold 22,358 shares of Commvault Systems stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $57.74, for a total transaction of $1,290,950.92. Following the completion of the sale, the chief executive officer now directly owns 373,110 shares in the company, valued at $21,543,371.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gary Merrill sold 4,492 shares of Commvault Systems stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $58.92, for a total transaction of $264,668.64. Following the sale, the chief financial officer now owns 53,598 shares of the company’s stock, valued at $3,157,994.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,958 shares of company stock worth $5,509,713. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Commvault Systems in a report on Thursday, May 18th. They set a “strong-buy” rating on the stock. Piper Sandler increased their price objective on shares of Commvault Systems from $60.00 to $65.00 in a report on Wednesday, May 3rd. Guggenheim began coverage on shares of Commvault Systems in a research note on Thursday, January 26th. They issued a “buy” rating and a $86.00 price target on the stock. Finally, 51job reissued a “maintains” rating on shares of Commvault Systems in a research note on Wednesday, May 3rd. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.20.

Commvault Systems Trading Up 2.2 %

Commvault Systems stock opened at $68.65 on Friday. Commvault Systems, Inc. has a 12-month low of $50.26 and a 12-month high of $69.16. The stock has a market cap of $3.02 billion, a P/E ratio of -84.74, a PEG ratio of 6.58 and a beta of 0.60. The company has a 50-day moving average price of $59.62 and a 200 day moving average price of $61.32.

About Commvault Systems

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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.