Investors Purchase High Volume of Pivotal Software Put Options (PVTL)

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Pivotal Software (NASDAQ:PVTL) was the recipient of some unusual options trading on Wednesday. Stock investors bought 3,732 put options on the stock. This is an increase of 804% compared to the average daily volume of 413 put options.

In related news, President William Cook sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $20.00, for a total transaction of $600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Edward Hieatt sold 44,791 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $20.01, for a total value of $896,267.91. The disclosure for this sale can be found here. Insiders have sold 169,949 shares of company stock valued at $3,549,191 over the last three months.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in shares of Pivotal Software during the fourth quarter worth approximately $25,000. Advisor Group Inc. increased its stake in shares of Pivotal Software by 267.9% during the fourth quarter. Advisor Group Inc. now owns 2,704 shares of the company’s stock worth $44,000 after purchasing an additional 1,969 shares during the period. Paloma Partners Management Co bought a new position in shares of Pivotal Software during the third quarter worth approximately $200,000. Virtu Financial LLC bought a new position in shares of Pivotal Software during the fourth quarter worth approximately $179,000. Finally, California Public Employees Retirement System bought a new position in shares of Pivotal Software during the second quarter worth approximately $341,000.

PVTL opened at $22.40 on Friday. Pivotal Software has a 12-month low of $14.43 and a 12-month high of $31.24.

Pivotal Software (NASDAQ:PVTL) last released its quarterly earnings data on Tuesday, December 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.04. The business had revenue of $168.10 million during the quarter, compared to analyst estimates of $164.11 million. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year.

PVTL has been the subject of several recent research reports. Zacks Investment Research raised Pivotal Software from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Saturday, December 15th. Needham & Company LLC raised their price objective on Pivotal Software from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, December 12th. Goldman Sachs Group cut Pivotal Software from a “buy” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $24.00 in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada raised Pivotal Software from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 20th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $23.46.

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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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