Highstreet Asset Management Inc. raised its stake in Vmware, Inc. (NYSE:VMW) by 36.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,119 shares of the virtualization software provider’s stock after buying an additional 1,884 shares during the quarter. Highstreet Asset Management Inc.’s holdings in Vmware were worth $777,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. purchased a new stake in Vmware in the 1st quarter valued at $141,000. Penserra Capital Management LLC grew its holdings in Vmware by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock valued at $181,000 after buying an additional 240 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in Vmware in the 2nd quarter valued at $191,000. Eagle Global Advisors LLC purchased a new stake in Vmware in the 2nd quarter valued at $203,000. Finally, Sapphire Star Partners LP purchased a new stake in Vmware in the 2nd quarter valued at $210,000. Institutional investors own 22.28% of the company’s stock.
In related news, COO Sanjay Poonen sold 1,134 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $106.51, for a total value of $120,782.34. Following the transaction, the chief operating officer now owns 192,774 shares in the company, valued at $20,532,358.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $107.82, for a total value of $646,920.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,885 shares of company stock worth $2,248,548. 0.52% of the stock is currently owned by insiders.
Several analysts have issued reports on VMW shares. Zacks Investment Research upgraded Vmware from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a report on Thursday, July 13th. Citigroup Inc. upped their target price on Vmware from $120.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 11th. Mizuho upped their target price on Vmware from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, August 14th. Robert W. Baird set a $115.00 target price on Vmware and gave the company a “buy” rating in a report on Monday, August 14th. Finally, Cowen and Company restated a “market perform” rating and issued a $104.00 target price (up from $98.00) on shares of Vmware in a report on Monday, August 14th. Fifteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Vmware presently has an average rating of “Buy” and an average target price of $112.84.
Shares of Vmware, Inc. (NYSE:VMW) opened at 120.05 on Tuesday. Vmware, Inc. has a 52-week low of $74.85 and a 52-week high of $121.09. The firm has a 50-day moving average price of $112.70 and a 200-day moving average price of $98.70. The firm has a market cap of $49.09 billion, a price-to-earnings ratio of 43.21 and a beta of 0.72.
Vmware (NYSE:VMW) last issued its quarterly earnings data on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Analysts predict that Vmware, Inc. will post $5.07 EPS for the current fiscal year.
Vmware declared that its board has approved a stock buyback program on Monday, August 14th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the virtualization software provider to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).
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