Microvast Holdings announces departure of chief financial officer
In a recent transaction disclosed through an SEC Form 4 filing, Allison Pickens, a director at Commvault Systems Inc. (NASDAQ:CVLT), sold 1,232 shares of common stock. The data storage company has shown impressive performance, with InvestingPro data showing a 71% return over the past year and maintaining strong gross profit margins of 82%. The shares were sold on March 3, 2025, at a price of $171.98 per share, amounting to a total transaction value of $211,879. Following this sale, Pickens holds 4,667 shares of Commvault stock directly. This transaction was executed under a pre-established trading plan. With the stock trading between $93.48 and $190.11 over the past 52 weeks and analyst targets ranging from $154 to $200, InvestingPro subscribers can access 13 additional key insights about CVLT’s valuation and growth prospects through the comprehensive Pro Research Report.
In other recent news, Commvault reported its third-quarter 2024 earnings, surpassing analyst expectations with an earnings per share of $0.94, compared to the forecasted $0.87. The company also exceeded revenue projections, reporting $263 million against the anticipated $245.93 million, marking a 21% year-over-year increase. Subscription revenue was a highlight, showing a significant 39% growth, supported by the addition of over 1,000 new subscription customers. In addition to these financial results, Commvault announced the appointment of Ha Hoang as its new Chief Information Officer. Hoang will lead the company’s cloud, security, and AI technology initiatives. Analyst firms have noted these developments, with some highlighting Commvault’s strategic focus on expanding its subscription services. The company is also on track to achieve $1 billion in annual recurring revenue earlier than planned. These recent developments reflect Commvault’s robust operational performance and strategic execution.
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