Examining the Potential Price Growth of Commvault Systems Inc. (CVLT)


Commvault Systems Inc.’s recently made public that its Director Lee Vivie unloaded Company’s shares for reported $0.13 million on Aug 30. In the deal valued at $68.71 per share,1,848 shares were sold. As a result of this transaction, Lee Vivie now holds 16,089 shares worth roughly $ 1.1 million.

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Then, Pickens Allison sold 990 shares, generating $67,300 in total proceeds. Upon selling the shares at $67.98, the Director now owns 6,049 shares.

Before that, Mirchandani Sanjay sold 9,991 shares. Commvault Systems Inc. shares valued at $687,721 were divested by the President & CEO at a price of $68.83 per share. As a result of the transaction, Mirchandani Sanjay now holds 454,621 shares, worth roughly $31.02 million.

DA Davidson initiated its Commvault Systems Inc. [CVLT] rating to a Buy in a research note published on Friday, August 17, 2023; the price target was $85. PT values the company’s stock at a premium of 19.72 to its Friday closing price.

Price Performance Review of CVLT

On Friday, Commvault Systems Inc. [NASDAQ:CVLT] saw its stock fall -0.10% to $68.24. On the same session, the stock had its day’s lowest price of $68.06, but rose to a high of $69.05. Commvault Systems Inc. shares have risen nearly 8.59% since the year began. Nevertheless, the stocks have risen 25.70% over the past one year. While a 52-week high of $78.80 was reached on 07/31/23, a 52-week low of $50.26 was recorded on 01/11/23. SMA at 50 days reached $72.02, while 200 days put it at $64.77. A total of 0.17 million shares were traded, compared to the trading of 0.3 million shares in the previous session.

Levels Of Support And Resistance For CVLT Stock

The 24-hour chart illustrates a support level at 67.85, which if violated will result in even more drops to 67.46. On the upside, there is a resistance level at 68.84. A further resistance level may holdings at 69.44. The Relative Strength Index (RSI) on the 14-day chart is 39.71, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 73.19%. Stochastics %K at 32.93% indicates the stock is a holding.

How much short interest is there in Commvault Systems Inc.?

A steep rise in short interest was recorded in Commvault Systems Inc. stocks on Aug 14, 2023, dropping by -0.11 million shares to a total of 0.87 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.98 million shares. There was a decline of -13.06%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.65% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.28.

Commvault Systems Inc. [CVLT] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 5,159,875 shares, or roughly 11.73% of the outstanding CVLT shares. In other words, the investor’s shares have risen by 191,987 from its previous 13-F filing of 4967888.0. Additionally, BlackRock Fund Advisors increased 5.04% of its stake after which the total value it holdings stand at $383,913,339, while Mackenzie Financial Corp. reduced -16.73% of its stake to hold $148.91 million in the firm. Over the last quarter, AllianceBernstein LP sold -485,746 shares of Commvault Systems Inc., while Renaissance Technologies LLC sold 61,742 shares. At present, SSgA Funds Management, Inc. is holding 1,577,393 shares valued at $122.93 million. Neuberger Berman Investment Advis owned 1,363,924 shares of the company at the time of its most recent 13F filing, worth $106.29 million.

According to FactSet, Commvault Systems Inc.’s share price will average $80.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.77 percent from its previous closing price of $68.31. Analysts expect Commvault Systems Inc. stock to reach the higher price of $86.00, while the lowest price estimate is $72.00. However, 9 analysts have rated CVLT stock as an Overweight in their predictions for 2023.


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