Parallel Advisors LLC Sells 201 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Parallel Advisors LLC cut its stake in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,583 shares of the software maker’s stock after selling 201 shares during the quarter. Parallel Advisors LLC’s holdings in Commvault Systems were worth $390,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CVLT. TFC Financial Management Inc. boosted its position in shares of Commvault Systems by 294.1% in the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after purchasing an additional 300 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Commvault Systems during the 3rd quarter valued at $71,000. TD Private Client Wealth LLC bought a new position in Commvault Systems in the 3rd quarter worth $105,000. Blue Trust Inc. increased its stake in Commvault Systems by 37,400.0% in the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock worth $113,000 after buying an additional 748 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in Commvault Systems in the 3rd quarter worth $126,000. 93.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVLT has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. KeyCorp upped their price target on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Cantor Fitzgerald lifted their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Insider Activity at Commvault Systems

In related news, CEO Sanjay Mirchandani sold 12,318 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. This represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now owns 87,316 shares of the company’s stock, valued at approximately $16,322,853.04. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Commvault Systems Stock Down 0.4 %

CVLT stock opened at $161.52 on Friday. Commvault Systems, Inc. has a 52 week low of $93.48 and a 52 week high of $190.11. The firm has a market capitalization of $7.11 billion, a P/E ratio of 42.39 and a beta of 0.62. The company has a fifty day simple moving average of $165.77 and a two-hundred day simple moving average of $160.73.

Commvault Systems 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.