Sanjay Mirchandani Sells 4,840 Shares of CommVault Systems (NASDAQ:CVLT) Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 4,840 shares of CommVault Systems stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $143.64, for a total value of $695,217.60. Following the transaction, the chief executive officer directly owned 264,533 shares in the company, valued at approximately $37,997,520.12. This trade represents a 1.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sanjay Mirchandani also recently made the following trade(s):

• On Wednesday, August 19th, Sanjay Mirchandani sold 6,857 shares of CommVault Systems stock. The shares were sold at an average price of $142.80, for a total value of $979,179.60.
• On Monday, August 17th, Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock. The shares were sold at an average price of $143.98, for a total transaction of $1,790,679.26.

CommVault Systems Stock Down 4.1%

CommVault Systems stock opened at $131.63 on Friday. CommVault Systems, Inc. has a twelve month low of $71.75 and a twelve month high of $198.18. The company has a debt-to-equity ratio of 16.94, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market cap of $5.45 billion, a PE ratio of 83.84 and a beta of 0.81. The firm’s 50 day moving average price is $138.49 and its two-hundred day moving average price is $109.32.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The company had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, research analysts predict that CommVault Systems, Inc. will post 2.84 EPS for the current fiscal year.

Key Headlines Impacting CommVault Systems

Here are the key news stories impacting CommVault Systems this week:

• Positive Sentiment: Analysts maintain a consensus “Moderate Buy” rating, with an average price target of approximately $152.47. Recent targets include $155 from Stephens and $182 from Truist, although Piper Sandler downgraded the stock to neutral with a $133 target. CommVault Systems Given Consensus Rating of Moderate Buy by Analysts
• Positive Sentiment: Commvault’s latest quarterly results remain a supportive backdrop: earnings of $1.42 per share exceeded estimates by $0.26, revenue reached $314.13 million, and sales increased 11.4% year over year. CommVault Systems financial and analyst information
• Neutral Sentiment: CEO Sanjay Mirchandani sold 24,134 shares worth roughly $3.47 million from August 17–19. CFO Gary Merrill sold 3,147 shares worth about $451,000, while Chief Accounting Officer Danielle Abrahamsen sold 996 shares worth approximately $143,000. All reported sales were tied to tax withholding and left the executives with substantial remaining holdings. CommVault Systems insider buying and selling
• Negative Sentiment: The concentration of insider selling may create short-term supply and sentiment pressure, particularly with CVLT trading below its 50-day moving average and at a high valuation of more than 80 times earnings. Nevertheless, the planned, tax-related nature of the sales reduces the bearish significance.

Institutional Trading of CommVault Systems

Several large investors have recently made changes to their positions in CVLT. Benjamin Edwards Inc. bought a new position in shares of CommVault Systems in the 2nd quarter valued at approximately $776,000. Harvest Management LLC bought a new stake in CommVault Systems during the second quarter worth approximately $454,000. Greenwood Capital Associates LLC acquired a new position in CommVault Systems during the second quarter valued at approximately $480,000. Hsbc Holdings PLC acquired a new position in CommVault Systems during the second quarter valued at approximately $207,000. Finally, Wellington Management Group LLP raised its position in shares of CommVault Systems by 57.1% in the second quarter. Wellington Management Group LLP now owns 402,054 shares of the software maker’s stock valued at $56,983,000 after purchasing an additional 146,055 shares during the period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Oppenheimer boosted their target price on CommVault Systems from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Zacks Research lowered CommVault Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Guggenheim reissued a “buy” rating on shares of CommVault Systems in a research note on Tuesday, July 28th. Scotiabank restated a “sector perform” rating and issued a $130.00 price objective on shares of CommVault Systems in a report on Wednesday, July 29th. Finally, DA Davidson set a $175.00 price objective on shares of CommVault Systems in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.47.

About CommVault Systems

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.