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

Parallel Advisors LLC lessened its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,583 shares of the software maker’s stock after selling 201 shares during the period. Parallel Advisors LLC’s holdings in Commvault Systems were worth $390,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. TFC Financial Management Inc. boosted its stake in shares of Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after purchasing an additional 300 shares during the period. Point72 DIFC Ltd bought a new stake in Commvault Systems during the 3rd quarter valued at about $71,000. TD Private Client Wealth LLC purchased a new stake in Commvault Systems in the 3rd quarter valued at about $105,000. Blue Trust Inc. grew 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 acquiring an additional 748 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new position in Commvault Systems in the 3rd quarter worth about $126,000. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com upgraded Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, January 29th. Cantor Fitzgerald raised their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. KeyCorp upped their price objective on shares of Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Commvault Systems has a consensus rating of “Moderate Buy” and an average price target of $156.44.

Insider Transactions at Commvault Systems

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

Commvault Systems Stock Performance

Shares of Commvault Systems stock opened at $161.52 on Friday. The company has a market capitalization of $7.11 billion, a PE ratio of 42.39 and a beta of 0.62. The company has a 50-day simple moving average of $165.77 and a two-hundred day simple moving average of $160.73. Commvault Systems, Inc. has a one year low of $93.48 and a one year high of $190.11.

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.