Stock Traders Purchase High Volume of Pivotal Software Call Options (NYSE:PVTL)

Pivotal Software (NYSE:PVTL) saw some unusual options trading on Thursday. Investors purchased 29,425 call options on the company. This represents an increase of approximately 11,485% compared to the average volume of 254 call options.

Pivotal Software stock opened at $14.00 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.29 and a current ratio of 2.29. The stock’s 50 day simple moving average is $9.96 and its two-hundred day simple moving average is $16.79. Pivotal Software has a fifty-two week low of $8.03 and a fifty-two week high of $29.15. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -22.22 and a beta of -0.02.

Pivotal Software (NYSE:PVTL) last issued its quarterly earnings results on Tuesday, June 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Pivotal Software had a negative return on equity of 10.67% and a negative net margin of 20.53%. The firm had revenue of $185.72 million for the quarter, compared to analysts’ expectations of $184.12 million. During the same period in the previous year, the firm posted ($0.10) EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts predict that Pivotal Software will post -0.15 earnings per share for the current year.

Several analysts have weighed in on the company. KeyCorp cut their price objective on Pivotal Software from $27.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 5th. Wedbush reaffirmed a “neutral” rating and set a $15.00 price objective on shares of Pivotal Software in a research report on Thursday. Credit Suisse Group reaffirmed an “outperform” rating and set a $20.00 price objective (down from $25.00) on shares of Pivotal Software in a research report on Wednesday, June 5th. Needham & Company LLC cut their price objective on Pivotal Software from $28.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Finally, Zacks Investment Research raised Pivotal Software from a “sell” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $18.50.

In other Pivotal Software news, SVP Onsi Fakhouri sold 6,250 shares of Pivotal Software stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $11.35, for a total transaction of $70,937.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President William Cook sold 12,736 shares of Pivotal Software stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $11.25, for a total value of $143,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,658 shares of company stock worth $572,236. 64.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Pivotal Software in the 4th quarter worth approximately $15,533,000. AdvisorNet Financial Inc bought a new stake in shares of Pivotal Software in the 2nd quarter worth approximately $32,000. Timpani Capital Management LLC bought a new stake in shares of Pivotal Software in the 1st quarter worth approximately $1,560,000. SG Americas Securities LLC bought a new stake in shares of Pivotal Software in the 1st quarter worth approximately $242,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Pivotal Software in the 1st quarter worth approximately $272,000. 26.57% of the stock is currently owned by hedge funds and other institutional investors.

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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