Should CommVault Systems, Inc. (NASDAQ:CVLT) investors track the following data?
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Equally as necessary, bullish insider trading sentiment is a second way to analyze the world of equities. Just as you’d expect, there are lots of reasons for an upper level exec to drop shares of his or her company, but only one, very obvious reason why they would behave bullishly. Several empirical studies have demonstrated the market-beating potential of this tactic if “monkeys” know what to do (learn more here).
Furthermore, it’s important to discuss the newest info surrounding CommVault Systems, Inc. (NASDAQ:CVLT).
How are hedge funds trading CommVault Systems, Inc. (NASDAQ:CVLT)?
In preparation for the third quarter, a total of 20 of the hedge funds we track were long in this stock, a change of 18% from one quarter earlier. With hedgies’ capital changing hands, there exists a select group of key hedge fund managers who were upping their holdings considerably.
According to our 13F database, Columbus Circle Investors, managed by Donald Chiboucis, holds the biggest position in CommVault Systems, Inc. (NASDAQ:CVLT). Columbus Circle Investors has a $92.2 million position in the stock, comprising 0.7% of its 13F portfolio. On Columbus Circle Investors’s heels is Jim Simons of Renaissance Technologies, with a $64.7 million position; 0.2% of its 13F portfolio is allocated to the stock. Other hedgies that are bullish include Cliff Asness’s AQR Capital Management, Richard Driehaus’s Driehaus Capital and Van Schreiber’s Bennett Lawrence Management.
With a general bullishness amongst the titans, particular hedge funds were leading the bulls’ herd. Columbus Circle Investors, managed by Donald Chiboucis, assembled the biggest position in CommVault Systems, Inc. (NASDAQ:CVLT). Columbus Circle Investors had 92.2 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $64.7 million position during the quarter. The other funds with new positions in the stock are Cliff Asness’s AQR Capital Management, Richard Driehaus’s Driehaus Capital, and Van Schreiber’s Bennett Lawrence Management.
What do corporate executives and insiders think about CommVault Systems, Inc. (NASDAQ:CVLT)?
Bullish insider trading is at its handiest when the company in focus has seen transactions within the past half-year. Over the latest 180-day time frame, CommVault Systems, Inc. (NASDAQ:CVLT) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to CommVault Systems, Inc. (NASDAQ:CVLT). These stocks are Msci Inc (NYSE:MSCI), MICROS Systems, Inc. (NASDAQ:MCRS), Splunk Inc (NASDAQ:SPLK), Cadence Design Systems Inc (NASDAQ:CDNS), and Fortinet Inc (NASDAQ:FTNT). All of these stocks are in the application software industry and their market caps are similar to CVLT’s market cap.