Point72 Hong Kong Ltd Sells 1,740 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Point72 Hong Kong Ltd decreased its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,988 shares of the software maker’s stock after selling 1,740 shares during the period. Point72 Hong Kong Ltd’s holdings in Commvault Systems were worth $2,065,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CVLT. Champlain Investment Partners LLC raised its holdings in shares of Commvault Systems by 58.5% in the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after buying an additional 304,459 shares in the last quarter. Norges Bank bought a new position in shares of Commvault Systems during the fourth quarter valued at $24,134,000. Acadian Asset Management LLC boosted its stake in shares of Commvault Systems by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after purchasing an additional 223,347 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Commvault Systems by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after purchasing an additional 126,800 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of Commvault Systems during the 2nd quarter worth about $10,265,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $151.80 on Thursday. The stock’s fifty day moving average price is $144.70 and its two-hundred day moving average price is $121.11. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 40.37 and a beta of 0.60. Commvault Systems, Inc. has a 52-week low of $63.70 and a 52-week high of $157.13.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.12. The business had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. On average, equities analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on CVLT shares. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. DA Davidson increased their price target on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 31st. KeyCorp boosted their price objective on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Guggenheim restated a “buy” rating and issued a $122.00 target price on shares of Commvault Systems in a research note on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

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.