Commvault Systems Inc’s filing revealed that its President & CEO Mirchandani Sanjay unloaded Company’s shares for reported $2.1 million on Mar 04 ’24. In the deal valued at $97.82 per share,21,494 shares were sold. As a result of this transaction, Mirchandani Sanjay now holds 399,356 shares worth roughly $38.91 million.
Then, Merrill Gary sold 822 shares, generating $79,940 in total proceeds. Upon selling the shares at $97.25, the Chief Financial Officer now owns 87,945 shares.
Before that, Pickens Allison sold 990 shares. Commvault Systems Inc shares valued at $93,783 were divested by the Director at a price of $94.73 per share. As a result of the transaction, Pickens Allison now holds 7,206 shares, worth roughly $0.7 million.
KeyBanc Capital Markets upgraded its Commvault Systems Inc [CVLT] rating to an Overweight from a a Sector weight in a research note published recently. A number of analysts have revised their coverage, including DA Davidson’s analysts, who began to cover the stock in mid August with a ‘”a Buy”‘ rating. Guggenheim began covering CVLT with “Buy” recommendation on January 27, 2023. Piper Sandler revised its rating on July 13, 2022. It rated CVLT as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of CVLT
On Tuesday, Commvault Systems Inc [NASDAQ:CVLT] saw its stock fall -2.22% to $97.43. Over the last five days, the stock has lost -1.66%. Commvault Systems Inc shares have risen nearly 22.02% since the year began. Nevertheless, the stocks have risen 66.69% over the past one year. While a 52-week high of $102.21 was reached on 04/04/24, a 52-week low of $56.76 was recorded on 01/05/24. SMA at 50 days reached $96.33, while 200 days put it at $78.06. A total of 0.25 million shares were traded, compared to the trading of 0.21 million shares in the previous session.
Levels Of Support And Resistance For CVLT Stock
The 24-hour chart illustrates a support level at 96.30, which if violated will result in even more drops to 95.17. On the upside, there is a resistance level at 99.22. A further resistance level may holdings at 101.01. The Relative Strength Index (RSI) on the 14-day chart is 47.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.68, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.06%. Stochastics %K at 49.79% 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 Mar 28, 2024, dropping by -0.11 million shares to a total of 0.91 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 1.02 million shares. There was a decline of -12.49%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.78% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.96.
