Twin Tree Management LP Lowers Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Twin Tree Management LP decreased its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 60.7% in the 4th quarter, HoldingsChannel reports. The firm owned 16,395 shares of the software maker’s stock after selling 25,294 shares during the quarter. Twin Tree Management LP’s holdings in Commvault Systems were worth $2,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after purchasing an additional 120,779 shares during the period. Summit Partners Public Asset Management LLC purchased a new position in shares of Commvault Systems in the third quarter valued at approximately $67,722,000. Point72 Hong Kong Ltd boosted its stake in shares of Commvault Systems by 37.9% in the third quarter. Point72 Hong Kong Ltd now owns 23,421 shares of the software maker’s stock valued at $3,603,000 after purchasing an additional 6,433 shares during the period. Intech Investment Management LLC lifted its stake in Commvault Systems by 31.8% in the third quarter. Intech Investment Management LLC now owns 24,074 shares of the software maker’s stock worth $3,704,000 after acquiring an additional 5,805 shares during the last quarter. Finally, Centiva Capital LP lifted its stake in Commvault Systems by 193.2% in the third quarter. Centiva Capital LP now owns 8,567 shares of the software maker’s stock worth $1,318,000 after acquiring an additional 5,645 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

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

Commvault Systems Trading Up 0.3 %

CVLT stock opened at $161.09 on Wednesday. Commvault Systems, Inc. has a twelve month low of $93.48 and a twelve month high of $190.11. The company’s 50 day moving average is $165.38 and its two-hundred day moving average is $160.64. The stock has a market cap of $7.09 billion, a P/E ratio of 42.28 and a beta of 0.62.

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.