Pivotal Software (PVTL) Receives Average Recommendation of “Buy” from Brokerages
Pivotal Software (NASDAQ:PVTL) has received an average recommendation of “Buy” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $23.33.
A number of equities research analysts have commented on PVTL shares. Needham & Company LLC started coverage on shares of Pivotal Software in a research report on Monday, October 22nd. They issued a “buy” rating and a $25.00 price objective on the stock. Morgan Stanley reissued a “buy” rating and issued a $29.00 price objective on shares of Pivotal Software in a research report on Thursday, September 13th. Zacks Investment Research raised shares of Pivotal Software from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Tuesday, September 18th. Barclays dropped their price objective on shares of Pivotal Software to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 13th. Finally, Citigroup increased their price objective on shares of Pivotal Software from $22.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, September 7th.
Shares of NASDAQ:PVTL traded up $0.31 during trading hours on Friday, reaching $18.15. The stock had a trading volume of 1,611,800 shares, compared to its average volume of 1,720,948. Pivotal Software has a 1 year low of $15.11 and a 1 year high of $31.24.
In related news, President William Cook sold 27,703 shares of the stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $20.00, for a total value of $554,060.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew M. Cohen sold 25,800 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $20.02, for a total transaction of $516,516.00. The disclosure for this sale can be found here. Insiders sold a total of 100,592 shares of company stock worth $2,012,356 over the last ninety days.
Several hedge funds and other institutional investors have recently bought and sold shares of PVTL. Paloma Partners Management Co acquired a new stake in Pivotal Software during the 3rd quarter worth $200,000. Tower Research Capital LLC TRC acquired a new stake in Pivotal Software during the 2nd quarter worth $232,000. Jane Street Group LLC acquired a new stake in Pivotal Software during the 2nd quarter worth $252,000. CIBC World Markets Inc. acquired a new stake in Pivotal Software during the 2nd quarter worth $260,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Pivotal Software during the 2nd quarter worth $273,000.
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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