Gilder Gagnon Howe & Co. LLC Lowers Stake in Pivotal Software (PVTL)

Gilder Gagnon Howe & Co. LLC reduced its position in Pivotal Software (NASDAQ:PVTL) by 30.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,351,220 shares of the company’s stock after selling 1,035,457 shares during the period. Gilder Gagnon Howe & Co. LLC owned 0.91% of Pivotal Software worth $46,037,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PVTL. TRUE Private Wealth Advisors acquired a new stake in shares of Pivotal Software in the 2nd quarter valued at $959,000. DSAM Partners London Ltd bought a new position in shares of Pivotal Software in the 2nd quarter worth $2,798,000. State of New Jersey Common Pension Fund D bought a new position in shares of Pivotal Software in the 2nd quarter worth $273,000. Emerald Advisers Inc. PA bought a new position in shares of Pivotal Software in the 2nd quarter worth $442,000. Finally, Wells Fargo & Company MN bought a new position in shares of Pivotal Software in the 2nd quarter worth $37,309,000.

PVTL stock opened at $19.00 on Wednesday. Pivotal Software has a 1-year low of $15.11 and a 1-year high of $31.24.

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

Several research firms have recently issued reports on PVTL. Needham & Company LLC began coverage on Pivotal Software in a research report on Monday, October 22nd. They issued a “buy” rating and a $25.00 price target on the stock. Wedbush began coverage on Pivotal Software in a research report on Thursday, October 18th. They issued an “outperform” rating and a $25.00 price target on the stock. Zacks Investment Research upgraded Pivotal Software from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, September 18th. Morgan Stanley restated a “buy” rating and issued a $29.00 price target on shares of Pivotal Software in a research report on Thursday, September 13th. Finally, Barclays reduced their price target on Pivotal Software to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 13th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $23.46.

In other Pivotal Software news, President William Cook sold 2,297 shares of Pivotal Software stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $20.00, for a total transaction of $45,940.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Edward Hieatt sold 44,792 shares of Pivotal Software stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $20.00, for a total value of $895,840.00. The disclosure for this sale can be found here.

Pivotal Software 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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