CommVault Systems (CVLT) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 1,742,509 to 1,637,530 shares, with 6 days to go before the expiry. The short open interest has decreased by -6%, amounting to a reduction of -104,979 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 4% of the float of the company. The average daily volume of the stock is 275,930 shares. The short interest information was released on Wednesday Aug 24th after the market close.
CommVault Systems (NASDAQ:CVLT): The stock opened at $52.07 on Wednesday but the bulls could not build on the opening and the stock topped out at $52.29 for the day. The stock traded down to $51.58 during the day, due to lack of any buying support eventually closed down at $51.75 with a loss of -0.71% for the day. The stock had closed at $52.12 on the previous day. The total traded volume was 227,026 shares.
In a related news, The Securities and Exchange Commission has divulged that Merrill Gary, officer (Chief Accounting Officer) of Commvault Systems Inc, had unloaded 255 shares at an average price of $51.15 in a transaction dated on August 15, 2016. The total value of the transaction was worth $13,043.
CommVault Systems, Inc. (CommVault) is a provider of data and information management software applications and related services. The Company develops market and sell data and information management software applications under the Simpana Software brand. The Company develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia, that provides its customers with data protection, including backup and recovery; data migration and archiving; snapshot management and replication of data; integrated source, and target data deduplication; eDiscovery and compliance solutions; self-service access; a secure virtual repository using simpana contentStore; enterprise-wide search capabilities; protection, recovery and discovery of data in virtual server and cloud environments; and robust built-in analytics and troubleshooting tools. Company also provides its customers with a range of professional and customer support services.