Pivotal Software (NASDAQ:PVTL) had its target price cut by stock analysts at Barclays from $23.00 to $21.00 in a research note issued to investors on Friday. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential downside of 3.40% from the stock’s current price.
A number of other equities analysts also recently commented on the stock. Goldman Sachs Group downgraded shares of 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 upgraded shares of Pivotal Software from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 20th. Needham & Company LLC upped their price objective on shares of Pivotal Software from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 12th. Zacks Investment Research upgraded shares of Pivotal Software from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Saturday, December 15th. Finally, Bank of America reiterated a “neutral” rating and issued a $25.00 price target (up previously from $22.00) on shares of Pivotal Software in a report on Friday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Pivotal Software presently has a consensus rating of “Buy” and a consensus price target of $23.77.
Pivotal Software stock traded down $0.66 during trading hours on Friday, reaching $21.74. 3,215,587 shares of the stock were exchanged, compared to its average volume of 1,910,127. Pivotal Software has a 52-week low of $14.43 and a 52-week high of $31.24.
Pivotal Software (NASDAQ:PVTL) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.05). The business had revenue of $169.20 million for the quarter, compared to the consensus estimate of $170.21 million. The firm’s quarterly revenue was up 27.0% on a year-over-year basis.
In related news, SVP Onsi Fakhouri sold 13,700 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $22.49, for a total value of $308,113.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Scott Yara sold 36,667 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $22.47, for a total transaction of $823,907.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,949 shares of company stock worth $3,549,191.
Several hedge funds have recently made changes to their positions in PVTL. Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. Norges Bank acquired a new position in Pivotal Software in the fourth quarter valued at about $15,533,000. Dimensional Fund Advisors LP acquired a new position in Pivotal Software in the fourth quarter valued at about $2,041,000. FMR LLC lifted its stake in Pivotal Software by 179.1% in the fourth quarter. FMR LLC now owns 5,186,120 shares of the company’s stock valued at $84,793,000 after buying an additional 3,328,120 shares during the period. Finally, Legal & General Group Plc acquired a new position in Pivotal Software in the fourth quarter valued at about $1,429,000.
Pivotal Software Company 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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