Schwab Charles Investment Management Inc. Invests $2.96 Million in Pivotal Software (PVTL) Stock

Schwab Charles Investment Management Inc. acquired a new stake in Pivotal Software (NASDAQ:PVTL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 121,857 shares of the company’s stock, valued at approximately $2,958,000.

Other large investors have also recently bought and sold shares of the company. CIBC World Markets Inc. purchased a new position in Pivotal Software in the 2nd quarter valued at about $260,000. DSAM Partners London Ltd purchased a new position in Pivotal Software in the 2nd quarter valued at about $2,798,000. TRUE Private Wealth Advisors purchased a new position in Pivotal Software in the 2nd quarter valued at about $959,000. Wells Fargo & Company MN purchased a new position in Pivotal Software in the 2nd quarter valued at about $37,309,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Pivotal Software in the 2nd quarter valued at about $345,000.

A number of equities research analysts have recently issued reports on PVTL shares. Barclays upped their target price on shares of Pivotal Software from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 15th. Zacks Investment Research lowered shares of Pivotal Software from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Credit Suisse Group upped their target price on shares of Pivotal Software from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, June 13th. Finally, Morgan Stanley upped their target price on shares of Pivotal Software from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, June 13th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $23.18.

Shares of Pivotal Software stock opened at $19.00 on Tuesday. Pivotal Software has a 1 year low of $15.11 and a 1 year high of $31.24.

Pivotal Software (NASDAQ:PVTL) last issued its earnings results on Wednesday, September 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The company had revenue of $164.40 million during the quarter, compared to analyst estimates of $158.12 million. The business’s revenue was up 30.5% on a year-over-year basis.

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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Institutional Ownership by Quarter for Pivotal Software (NASDAQ:PVTL)

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