Pivotal Software (PVTL) PT Lowered to $21.00
Pivotal Software (NASDAQ:PVTL) had its price objective reduced by Barclays from $23.00 to $21.00 in a report issued on Friday morning. They currently have an equal weight rating on the stock.
A number of other analysts also recently issued reports on the company. Wedbush raised their price objective on Pivotal Software from $25.00 to $26.00 and gave the stock an outperform rating in a research report on Friday. Bank of America reissued a neutral rating and set a $25.00 price objective (up from $22.00) on shares of Pivotal Software in a research report on Friday. Goldman Sachs Group downgraded Pivotal Software from a buy rating to a neutral rating and cut their price objective for the stock from $25.00 to $24.00 in a research report on Wednesday, March 6th. Royal Bank of Canada raised Pivotal Software from a sector perform rating to an outperform rating in a research report on Thursday, December 20th. Finally, Zacks Investment Research downgraded Pivotal Software from a buy rating to a hold rating in a research report on Tuesday, December 18th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Pivotal Software has an average rating of Buy and a consensus target price of $24.23.
NASDAQ PVTL opened at $21.52 on Friday. Pivotal Software has a 52 week low of $14.43 and a 52 week high of $31.24.
In related news, SVP Onsi Fakhouri sold 13,700 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $22.49, for a total transaction of $308,113.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President William Cook sold 30,000 shares of Pivotal Software stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $20.00, for a total value of $600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 169,949 shares of company stock valued at $3,549,191 over the last three months.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC acquired a new position in Pivotal Software in the 4th quarter valued at about $25,000. Advisor Group Inc. grew its position in Pivotal Software by 267.9% in the 4th quarter. Advisor Group Inc. now owns 2,704 shares of the company’s stock valued at $44,000 after acquiring an additional 1,969 shares in the last quarter. Paloma Partners Management Co acquired a new position in Pivotal Software in the 3rd quarter valued at about $200,000. Virtu Financial LLC acquired a new position in Pivotal Software in the 4th quarter valued at about $179,000. Finally, Washington Capital Management Inc. acquired a new position in Pivotal Software in the 3rd quarter valued at about $284,000.
About Pivotal Software
Pivotal Software, Inc, together with its subsidiaries, provides an integrated solution that combines a cloud-native application platform and services in the United States. Its cloud-native platform, Pivotal Cloud Foundry (PCF), accelerates and streamlines software development by reducing the complexity of building, deploying, and operating modern applications.
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