Sun Sep 15 13:49:47 UTC 2024: ## Commvault Systems (CVLT) Sees Increased Institutional Interest Amid Insider Sales
**New York, NY – September 15, 2024** – Commvault Systems, Inc. (NASDAQ:CVLT), a leading provider of data protection solutions, has seen a surge in institutional investor interest, with several funds adding to or establishing new positions in the company’s stock during the second quarter.
Meeder Asset Management Inc., for example, purchased 827 shares of CVLT, valued at approximately $101,000. Other notable investors include National Bank of Canada FI, Hexagon Capital Partners LLC, Signaturefd LLC, Strategic Financial Concepts LLC, and GAMMA Investing LLC, all of whom have increased their stakes in the company. Institutional investors now own a substantial 93.50% of Commvault Systems stock.
However, insider activity has been more mixed. Gary Merrill, an insider at Commvault Systems, sold 17,388 shares on August 27th for a total of $2,621,414.88. This follows a previous sale by Merrill on the same date, and a sale by Director Allison Pickens on August 30th. Insiders now own 1.00% of the company’s stock.
Analysts are generally positive on CVLT’s prospects. DA Davidson has boosted its price target from $170.00 to $175.00 and maintains a “buy” rating, while KeyCorp has raised its target to $170.00 with an “overweight” rating. Other firms, including Piper Sandler and Royal Bank of Canada, have also adjusted their price targets upwards.
The stock opened at $147.81 on Friday, with a market cap of $6.46 billion. Commvault Systems continues to provide data protection solutions for businesses worldwide, offering services such as backup and recovery, disaster recovery, and cloud-based data protection.
**Disclaimer:** This news article is intended for informational purposes only and does not constitute financial advice. Investors should conduct their own research and consult with a qualified financial professional before making any investment decisions.
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