Commvault (CVLT) Insider Sells $8,843,850.00 in Stock

Commvault (NASDAQ:CVLT) insider Al Bunte sold 135,000 shares of the stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $65.51, for a total transaction of $8,843,850.00. Following the sale, the insider now directly owns 561,599 shares of the company’s stock, valued at $36,790,350.49. The sale was disclosed in a document filed with the SEC, which is available through this link.

Al Bunte also recently made the following trade(s):

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  • On Friday, March 2nd, Al Bunte sold 70,000 shares of Commvault stock. The shares were sold at an average price of $50.74, for a total transaction of $3,551,800.00.

CVLT stock opened at $66.35 on Friday. Commvault has a fifty-two week low of $48.35 and a fifty-two week high of $67.85. The firm has a market capitalization of $3,015.63, a P/E ratio of 1,327.00, a price-to-earnings-growth ratio of 10.68 and a beta of 1.15.

Commvault (NASDAQ:CVLT) last posted its earnings results on Wednesday, January 24th. The software maker reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Commvault had a negative net margin of 8.30% and a positive return on equity of 0.32%. The business had revenue of $180.37 million during the quarter, compared to analysts’ expectations of $182.01 million. During the same period last year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. research analysts predict that Commvault will post 0.03 EPS for the current year.

Commvault declared that its board has authorized a share repurchase plan on Wednesday, January 24th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the software maker to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

A number of equities research analysts have issued reports on CVLT shares. Zacks Investment Research raised shares of Commvault from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 26th. BidaskClub raised shares of Commvault from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Mizuho reaffirmed a “buy” rating and set a $75.00 price objective on shares of Commvault in a report on Wednesday, January 17th. Lake Street Capital reaffirmed a “buy” rating and set a $58.00 price objective (down from $60.00) on shares of Commvault in a report on Thursday, January 25th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $76.00 price objective on shares of Commvault in a report on Monday, April 2nd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $72.44.

Several hedge funds have recently bought and sold shares of CVLT. Russell Investments Group Ltd. grew its holdings in shares of Commvault by 85.6% in the third quarter. Russell Investments Group Ltd. now owns 103,700 shares of the software maker’s stock valued at $6,305,000 after purchasing an additional 47,820 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Commvault by 13.2% during the third quarter. Ameriprise Financial Inc. now owns 481,302 shares of the software maker’s stock worth $29,263,000 after buying an additional 56,227 shares during the period. Legal & General Group Plc boosted its stake in Commvault by 15.1% during the third quarter. Legal & General Group Plc now owns 35,839 shares of the software maker’s stock worth $2,180,000 after buying an additional 4,695 shares during the period. Wells Fargo & Company MN boosted its stake in Commvault by 10.0% during the third quarter. Wells Fargo & Company MN now owns 185,603 shares of the software maker’s stock worth $11,285,000 after buying an additional 16,889 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Commvault by 1.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 255,500 shares of the software maker’s stock worth $15,535,000 after buying an additional 3,847 shares during the period. 90.07% of the stock is owned by hedge funds and other institutional investors.

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Commvault Company Profile

Commvault Systems, Inc provides data and information management software applications and related services in the United States and internationally. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information.

Insider Buying and Selling by Quarter for Commvault (NASDAQ:CVLT)

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