First Mercantile Trust Co. boosted its position in Pluralsight Inc (NASDAQ:PS) by 65.5% during the first quarter, Holdings Channel reports. The fund owned 9,100 shares of the company’s stock after buying an additional 3,600 shares during the quarter. First Mercantile Trust Co.’s holdings in Pluralsight were worth $289,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in PS. Crewe Advisors LLC bought a new position in Pluralsight in the fourth quarter valued at approximately $203,041,000. Riverbridge Partners LLC bought a new position in Pluralsight in the first quarter valued at approximately $72,669,000. BBR Partners LLC acquired a new stake in Pluralsight in the fourth quarter valued at approximately $43,348,000. Intrinsic Edge Capital Management LLC acquired a new stake in Pluralsight in the fourth quarter valued at approximately $13,664,000. Finally, Vista Equity Partners Management LLC boosted its position in Pluralsight by 189.6% in the fourth quarter. Vista Equity Partners Management LLC now owns 670,477 shares of the company’s stock valued at $15,790,000 after buying an additional 438,998 shares in the last quarter. 61.44% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Pluralsight from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Citigroup assumed coverage on shares of Pluralsight in a research report on Tuesday. They issued a “buy” rating and a $42.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $42.00 target price (up previously from $38.00) on shares of Pluralsight in a research report on Thursday, May 2nd. Finally, Bank of America raised their target price on shares of Pluralsight from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Pluralsight currently has an average rating of “Buy” and a consensus price target of $36.34.
Pluralsight (NASDAQ:PS) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $69.60 million for the quarter, compared to analyst estimates of $68.31 million. Pluralsight had a negative net margin of 31.50% and a negative return on equity of 51.53%. The business’s revenue for the quarter was up 40.2% on a year-over-year basis. Equities analysts anticipate that Pluralsight Inc will post -0.98 earnings per share for the current year.
In related news, CFO James Budge sold 333,091 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $29.44, for a total value of $9,806,199.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nate Walkingshaw sold 3,851 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $30.87, for a total transaction of $118,880.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,123,951 shares of company stock worth $260,070,900. 23.19% of the stock is owned by company insiders.
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Pluralsight, Inc provides a technology skill development solutions worldwide. Its cloud-based technology skills platform offers a range of tools, including skill and role assessment tool, which uses machine learning and advanced algorithms to measure a user's skills, benchmark that user against others in the industry, and recommend opportunities for growth; and Course Library that include a digital ecosystem of thousands of on-demand courses across a range of technology subject areas, such as cloud, mobile, security, IT, and data.
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