Hedge Fund Starboard Value Cuts Stake in CommVault Systems (CVLT)

Fintel reports that Starboard Value LP has filed a 13D/A form with the SEC disclosing ownership of 2,719,857 shares of CommVault Systems, Inc. (CVLT). This represents 6.1% of the company.

In their previous filing dated July 6, 2022 they reported 3,802,375 shares and 8.50% of the company, a decrease in shares of 28.47% and a decrease in total ownership of 2.40% (calculated as current – previous percent ownership).

What are other large shareholders doing?

Alliancebernstein L.p. holds 2,801,353 shares representing 6.29% ownership of the company. In it’s prior filing, the firm reported owning 2,881,364 shares, representing a decrease of 2.86%. The firm decreased its portfolio allocation in CVLT by 26.41% over the last quarter.

Mackenzie Financial Corp holds 2,297,673 shares representing 5.16% ownership of the company. In it’s prior filing, the firm reported owning 2,306,502 shares, representing a decrease of 0.38%. The firm decreased its portfolio allocation in CVLT by 9.79% over the last quarter.

Renaissance Technologies Llc holds 1,753,250 shares representing 3.94% ownership of the company. In it’s prior filing, the firm reported owning 1,991,987 shares, representing a decrease of 13.62%. The firm decreased its portfolio allocation in CVLT by 11.31% over the last quarter.

Acadian Asset Management Llc holds 1,245,453 shares representing 2.80% ownership of the company. In it’s prior filing, the firm reported owning 1,172,899 shares, representing an increase of 5.83%. The firm decreased its portfolio allocation in CVLT by 4.26% over the last quarter.

What is the overall Fund Sentiment?

There are 627 funds or institutions reporting positions in CommVault Systems, Inc.. This is a decrease of 9 owner(s) or 1.42%.

Average portfolio weight of all funds dedicated to CommVault Systems, Inc. is 0.1922%, a decrease of 2.8339%. Total shares owned by institutions decreased in the last three months by 0.55% to 47,823,193 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and in particular how the company ranks compared to other companies in the investing universe.

Click to see the Fintel Fund Sentiment Score for CVLT / CommVault Systems, Inc..

This article originally appeared on Fintel