Alpha DNA Investment Management LLC Acquires New Shares in Commvault Systems, Inc. (NASDAQ:CVLT)

Alpha DNA Investment Management LLC bought a new stake in Commvault Systems, Inc. (NASDAQ:CVLT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,841 shares of the software maker’s stock, valued at approximately $429,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVLT. Nisa Investment Advisors LLC grew its holdings in Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock worth $296,000 after acquiring an additional 66 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Commvault Systems by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock worth $213,000 after buying an additional 75 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Commvault Systems by 4.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker’s stock valued at $368,000 after buying an additional 93 shares during the last quarter. Mariner LLC raised its position in shares of Commvault Systems by 3.7% during the fourth quarter. Mariner LLC now owns 3,310 shares of the software maker’s stock worth $500,000 after acquiring an additional 118 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Commvault Systems by 13.7% in the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after acquiring an additional 121 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Stock Performance

CVLT stock opened at $149.74 on Friday. The stock’s 50 day simple moving average is $162.17 and its 200 day simple moving average is $161.57. The company has a market cap of $6.59 billion, a P/E ratio of 39.30 and a beta of 0.68. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11.

Wall Street Analyst Weigh In

CVLT has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Cantor Fitzgerald boosted their price objective on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.00.

Insider Activity

In other news, insider Gary Merrill sold 3,287 shares of Commvault Systems stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now directly owns 87,316 shares in the company, valued at $16,322,853.04. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mirchandani sold 12,318 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now owns 427,231 shares in the company, valued at $79,447,876.76. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Commvault Systems Company Profile

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.