Neuburgh Advisers LLC boosted its holdings in shares of Pivotal Software (NYSE:PVTL) by 131.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,472 shares of the company’s stock after buying an additional 3,104 shares during the period. Neuburgh Advisers LLC’s holdings in Pivotal Software were worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in PVTL. AdvisorNet Financial Inc acquired a new position in Pivotal Software during the 2nd quarter valued at about $32,000. BNP Paribas Arbitrage SA increased its holdings in shares of Pivotal Software by 195.7% in the first quarter. BNP Paribas Arbitrage SA now owns 1,585 shares of the company’s stock valued at $33,000 after purchasing an additional 1,049 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Pivotal Software in the second quarter valued at about $34,000. Resources Investment Advisors LLC. acquired a new position in shares of Pivotal Software in the second quarter valued at about $45,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Pivotal Software in the second quarter valued at about $107,000. 24.94% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on PVTL. Morgan Stanley cut their price objective on Pivotal Software from $26.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, June 5th. Credit Suisse Group lowered Pivotal Software from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $15.00 in a report on Monday, August 26th. Citigroup increased their price objective on Pivotal Software from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Zacks Investment Research raised Pivotal Software from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Friday. Finally, Barclays cut their price objective on Pivotal Software from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.30.
Pivotal Software (NYSE:PVTL) last issued its earnings results on Wednesday, September 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. Pivotal Software had a negative return on equity of 9.92% and a negative net margin of 18.66%. The firm had revenue of $193.00 million for the quarter, compared to the consensus estimate of $186.50 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company’s revenue was up 17.4% compared to the same quarter last year. Analysts anticipate that Pivotal Software will post -0.45 earnings per share for the current year.
In other Pivotal Software news, SVP Andrew M. Cohen sold 4,240 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.27, for a total transaction of $47,784.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Onsi Fakhouri sold 6,250 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $11.35, for a total value of $70,937.50. The disclosure for this sale can be found here. Insiders sold 50,658 shares of company stock worth $572,236 in the last 90 days. Company insiders own 64.90% of the company’s stock.
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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