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Commvault Systems Inc [CVLT] Shares Jump Approximately 73.04% Over the Year

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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Commvault Systems Inc shares valued at $41,325 were sold by Pickens Allison on May 30 ’24. At $110.79 per share, Pickens Allison sold 373 shares. The insider’s holdings dropped to 6,833 shares worth approximately $0.86 million following the completion of this transaction.

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Also, MORAN CHARLES E sold 11,000 shares, netting a total of over 1,219,130 in proceeds. Following the sale of shares at $110.83 each, the insider now holds 10,967 shares.

Before that, Merrill Gary had sold 661 shares from its account. In a trade valued at $73,093, the Chief Financial Officer traded Commvault Systems Inc shares for $110.58 each. Upon closing the transaction, the insider’s holdings decreased to 661 shares, worth approximately $14.34 million.

As published in a research note from KeyBanc Capital Markets on January 31, 2024, Commvault Systems Inc [CVLT] has been rated up from a Sector weight to an Overweight and the price target has been revised to $109. Analysts at DA Davidson started covering the stock with ‘”a Buy”‘ outlook in a report released in mid August. As of January 27, 2023, Guggenheim has initiated its “Buy” rating for CVLT. Earlier on July 13, 2022, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for CVLT stock which previously was a “an Overweight”.

Analyzing CVLT Stock Performance

During the last five days, there has been a surge of approximately 5.66%. Over the course of the year, Commvault Systems Inc shares have jumped approximately 56.98%. Shares of the company reached a 52-week high of $126.93 on 07/03/24 and a 52-week low of $73.33 on 01/05/24. A 50-day SMA is recorded $111.63, while a 200-day SMA reached $89.20. Nevertheless, trading volume fell to 0.17 million shares from 0.24 million shares the previous day.

Support And Resistance Levels for Commvault Systems Inc (CVLT)

According to the 24-hour chart, there is a support level at 124.42, which, if violated, would cause prices to drop to 123.69. In the upper region, resistance lies at 126.40. The next price resistance is at 127.66. RSI (Relative Strength Index) is 72.46 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.33, which suggests the price will increase in the coming days. Percent R is at 13.59%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.

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