Pickens Allison sells Commvault (CVLT) shares for $122,744

Director Allison Pickens sold 690 shares of Commvault Systems Inc (NASDAQ:CVLT), a $7.94 billion data management software company with impressive gross margins of 82%, on September 3, 2025, according to a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro analysis, CVLT is currently trading above its Fair Value, with the stock price near $179. The shares were sold at a price of $177.89, for a total value of $122,744. Following the transaction, Pickens directly owns 5,166 shares of the company. The company maintains strong financial health with more cash than debt on its balance sheet, though InvestingPro data shows it’s trading at relatively high earnings and EBITDA multiples. InvestingPro subscribers have access to 11 more key insights about CVLT’s valuation and growth prospects.

The sale reported in this Form 4 was effected pursuant to an existing Rule 10b5-1 trading plan adopted by the reporting person on February 10, 2025. The reporting person is subject to a lock-up agreement that expires on November 1, 2025. The sale of shares is a permissible exemption under the terms of the lock-up agreement.

In other recent news, Commvault Systems announced the pricing of an upsized $785 million convertible notes offering, initially set at $750 million, which is expected to close soon, subject to customary conditions. The company has also expanded its HyperScale portfolio with the introduction of HyperScale Edge and HyperScale Flex solutions, targeting remote sites and high-performance backup for data-intensive workloads, respectively. KeyBanc raised its price target for Commvault Systems to $225 from $195, citing the company’s strong fiscal first-quarter performance, including $40 million in annual recurring revenue, which surpassed estimates. RBC Capital also increased its price target to $217, acknowledging Commvault’s financial results and guidance that exceeded expectations. Cantor Fitzgerald raised its price target to $189 from $173, noting Commvault’s strong fiscal first quarter, driven by large Term license deals and a 5% revenue beat compared to estimates. These developments highlight Commvault’s recent financial and strategic activities.

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