Mirae Asset Global Investments Co. Ltd. Reduces Stock Position in Commvault Systems, Inc. (NASDAQ:CVLT)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 7.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,414 shares of the software maker’s stock after selling 108 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Commvault Systems were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CVLT. Creative Planning boosted its position in Commvault Systems by 66.0% during the 3rd quarter. Creative Planning now owns 12,150 shares of the software maker’s stock worth $1,869,000 after acquiring an additional 4,829 shares during the period. Vontobel Holding Ltd. purchased a new position in Commvault Systems in the third quarter valued at about $1,126,000. Ellsworth Advisors LLC boosted its stake in shares of Commvault Systems by 4.4% during the 3rd quarter. Ellsworth Advisors LLC now owns 4,252 shares of the software maker’s stock worth $654,000 after acquiring an additional 181 shares in the last quarter. AlphaMark Advisors LLC bought a new stake in shares of Commvault Systems during the 3rd quarter worth about $328,000. Finally, Raymond James & Associates boosted its stake in Commvault Systems by 58.1% during the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock valued at $2,371,000 after purchasing an additional 5,661 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Stock Up 2.8 %

Shares of NASDAQ CVLT opened at $183.55 on Friday. Commvault Systems, Inc. has a twelve month low of $90.32 and a twelve month high of $185.02. The business’s 50 day moving average price is $162.52 and its two-hundred day moving average price is $157.20. The company has a market cap of $8.08 billion, a PE ratio of 48.18 and a beta of 0.65.

Insider Activity

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the sale, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. This represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the transaction, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CVLT has been the subject of a number of research reports. Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective for the company. William Blair raised Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Cantor Fitzgerald lifted their price objective on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. KeyCorp boosted their target price on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada boosted their price target on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.44.

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.