Pivotal Software (PVTL) Shares Sold by Pier Capital LLC
Pier Capital LLC decreased its position in shares of Pivotal Software (NASDAQ:PVTL) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 330,361 shares of the company’s stock after selling 23,407 shares during the period. Pier Capital LLC’s holdings in Pivotal Software were worth $6,888,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of Pivotal Software in the first quarter worth $272,000. FNY Investment Advisers LLC acquired a new position in shares of Pivotal Software in the first quarter worth $30,000. Selective Wealth Management Inc. acquired a new position in Pivotal Software in the first quarter valued at $7,300,000. Geode Capital Management LLC increased its stake in Pivotal Software by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 280,702 shares of the company’s stock valued at $4,589,000 after purchasing an additional 14,626 shares during the last quarter. Finally, Norges Bank acquired a new position in Pivotal Software in the fourth quarter valued at $15,533,000.
In other Pivotal Software news, President William Cook sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $20.00, for a total transaction of $600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew M. Cohen sold 12,900 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $20.82, for a total value of $268,578.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 401,843 shares of company stock valued at $8,210,345.
Pivotal Software (NASDAQ:PVTL) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.05). The business had revenue of $169.20 million during the quarter, compared to analysts’ expectations of $170.21 million. The firm’s quarterly revenue was up 27.0% on a year-over-year basis.
PVTL has been the subject of several analyst reports. Goldman Sachs Group lowered Pivotal Software from a “buy” rating to a “neutral” rating and dropped their target price for the company from $25.00 to $24.00 in a research note on Wednesday, March 6th. Morgan Stanley upped their target price on Pivotal Software from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Wedbush upped their target price on Pivotal Software from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Zacks Investment Research upgraded Pivotal Software from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Saturday, March 16th. Finally, Bank of America reiterated a “neutral” rating and issued a $25.00 target price (up from $22.00) on shares of Pivotal Software in a research note on Friday, March 15th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Pivotal Software has a consensus rating of “Buy” and an average target price of $24.00.
Pivotal Software Profile
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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