Commvault Systems Inc. (NASDAQ:CVLT) director Charles E. Moran sold 11,000 shares of the company's stock on May 29, 2024, as shown in the latest SEC filings. The transaction was executed at an average price of $110.83 per share, resulting in a total sale amount of approximately $1.22 million.
The sale decreased Moran's holdings to 10,967 shares of Commvault Systems stock, directly owned after the transaction. The sale price of $110.83 indicates a firm market valuation for the shares at the time of the transaction.
Commvault Systems, based in Tinton Falls, New Jersey, is known for its services in prepackaged software, playing a significant role in the technology sector. With a robust presence in data management and protection, the company continues to be a key player in its industry.
Investors and market watchers often pay close attention to insider trades, such as Moran's, for insights into the perspectives of those most familiar with the company. However, it is essential to consider these transactions within the broader context of a company's performance and market activities.
The details of the transaction were made public through an SEC Form 4 filing, with a signature from Danielle Abrahamsen, Attorney-in-Fact, dated May 30, 2024. Commvault Systems and its executives are required by law to report their transactions in company stock, ensuring transparency for investors and the market alike.
InvestingPro Insights
Commvault Systems Inc. (NASDAQ:CVLT) has seen a notable insider sale, but looking beyond the headlines provides a broader picture of the company's financial health. With a market capitalization of $4.72 billion and a P/E ratio of 28.35, Commvault presents a mix of stability and growth potential. The company's impressive gross profit margin of 81.93% in the last twelve months as of Q4 2024 underscores its efficiency in maintaining profitability despite costs.
An InvestingPro Tip highlights that Commvault holds more cash than debt on its balance sheet, a reassuring sign of financial prudence and liquidity for investors. Additionally, the company's share price has appreciated significantly, with a 60.16% return over the last year, reflecting strong market confidence. These factors, combined with a management team that has been aggressively buying back shares, signal a robust vote of confidence in the company's future.
For those interested in deeper analysis, there are 17 additional InvestingPro Tips available for Commvault Systems at https://www.investing.com/pro/CVLT. To access these valuable insights and more, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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