Wells Fargo & Company MN raised its position in Pivotal Software (NASDAQ:PVTL) by 88.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,890,993 shares of the company’s stock after buying an additional 1,353,731 shares during the quarter. Wells Fargo & Company MN’s holdings in Pivotal Software were worth $56,606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DSAM Partners London Ltd acquired a new position in Pivotal Software during the second quarter worth approximately $2,798,000. State of New Jersey Common Pension Fund D acquired a new position in Pivotal Software during the second quarter worth approximately $273,000. Gilder Gagnon Howe & Co. LLC acquired a new position in Pivotal Software during the second quarter worth approximately $82,195,000. Emerald Advisers Inc. PA acquired a new position in Pivotal Software during the second quarter worth approximately $442,000. Finally, Frontier Capital Management Co. LLC acquired a new position in Pivotal Software during the second quarter worth approximately $3,113,000.

PVTL has been the subject of several research analyst reports. Wedbush initiated coverage on shares of Pivotal Software in a research report on Thursday, October 18th. They set an “outperform” rating and a $25.00 price target for the company. Barclays upped their price target on shares of Pivotal Software from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 15th. Citigroup upped their price target on shares of Pivotal Software from $22.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, September 7th. Morgan Stanley reaffirmed a “buy” rating and set a $29.00 price target on shares of Pivotal Software in a research report on Thursday, September 13th. Finally, Zacks Investment Research raised shares of Pivotal Software from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, July 25th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $23.46.

PVTL opened at $18.34 on Monday. Pivotal Software has a 52-week low of $15.11 and a 52-week high of $31.24.

Pivotal Software (NASDAQ:PVTL) last released its quarterly earnings data on Wednesday, September 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $164.40 million for the quarter, compared to analysts’ expectations of $158.12 million. The company’s quarterly revenue was up 30.5% compared to the same quarter last year.

In other news, SVP Edward Hieatt sold 44,792 shares of the company’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $20.00, for a total value of $895,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President William Cook sold 2,297 shares of the company’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $20.00, for a total transaction of $45,940.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,592 shares of company stock valued at $2,012,356.

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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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