Sanjay Mirchandani Sells 12,437 Shares of CommVault Systems (NASDAQ:CVLT) Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 12,437 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $143.98, for a total value of $1,790,679.26. Following the completion of the transaction, the chief executive officer owned 269,373 shares in the company, valued at $38,784,324.54. This represents a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Wednesday, August 19th, Sanjay Mirchandani sold 6,857 shares of CommVault Systems stock. The stock was sold at an average price of $142.80, for a total value of $979,179.60.
• 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 value of $695,217.60.

CommVault Systems Price Performance

NASDAQ:CVLT opened at $131.63 on Friday. CommVault Systems, Inc. has a 52 week low of $71.75 and a 52 week high of $198.18. The stock’s fifty day moving average is $138.49 and its two-hundred day moving average is $109.32. The company has a market capitalization of $5.45 billion, a P/E 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 results 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. The business had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. Equities analysts expect that CommVault Systems, Inc. will post 2.84 EPS for the current year.

CommVault Systems News Roundup

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.

Institutional Trading of CommVault Systems

Several hedge funds have recently made changes to their positions in CVLT. Benjamin Edwards Inc. purchased a new position in shares of CommVault Systems in the second quarter valued at approximately $776,000. Harvest Management LLC purchased a new stake in CommVault Systems during the 2nd quarter worth approximately $454,000. Greenwood Capital Associates LLC purchased a new stake in CommVault Systems during the 2nd quarter worth approximately $480,000. Hsbc Holdings PLC acquired a new stake in CommVault Systems during the 2nd quarter worth approximately $207,000. Finally, Wellington Management Group LLP lifted its holdings in CommVault Systems by 57.1% during the 2nd quarter. Wellington Management Group LLP now owns 402,054 shares of the software maker’s stock worth $56,983,000 after buying an additional 146,055 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of recent analyst reports. Truist Financial lifted their price target on shares of CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $132.00 price objective on shares of CommVault Systems in a research report on Monday, July 27th. Jefferies Financial Group reiterated a “hold” rating and issued a $130.00 target price on shares of CommVault Systems in a report on Wednesday, July 29th. Scotiabank reissued a “sector perform” rating and issued a $130.00 target price on shares of CommVault Systems in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada upped their price target on CommVault Systems from $100.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.