Egon Durban Sells 435,682 Shares of Vmware, Inc. (VMW) Stock

Vmware, Inc. (NYSE:VMW) Director Egon Durban sold 435,682 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total value of $47,624,399.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Vmware, Inc. (VMW) opened at $117.94 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.98 and a current ratio of 1.98. Vmware, Inc. has a 52 week low of $74.85 and a 52 week high of $121.09. The firm has a market capitalization of $48,314.48, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 2.70 and a beta of 0.67.

Vmware (NYSE:VMW) last issued its quarterly earnings data on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the business earned $0.97 EPS. The business’s revenue was up 12.2% on a year-over-year basis. equities research analysts anticipate that Vmware, Inc. will post 3.79 earnings per share for the current year.

Vmware declared that its Board of Directors has authorized a stock repurchase plan on Monday, August 14th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the virtualization software provider to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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Large investors have recently modified their holdings of the business. Summit Global Investments bought a new position in Vmware during the 2nd quarter valued at $631,000. Dynamic Technology Lab Private Ltd bought a new position in Vmware during the 2nd quarter valued at $1,121,000. BNP Paribas Arbitrage SA lifted its stake in Vmware by 64.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 35,641 shares of the virtualization software provider’s stock valued at $3,116,000 after acquiring an additional 13,946 shares in the last quarter. AXA lifted its stake in Vmware by 102.9% during the 2nd quarter. AXA now owns 120,100 shares of the virtualization software provider’s stock valued at $10,501,000 after acquiring an additional 60,900 shares in the last quarter. Finally, Investec Asset Management PTY Ltd lifted its stake in Vmware by 18.9% during the 2nd quarter. Investec Asset Management PTY Ltd now owns 33,336 shares of the virtualization software provider’s stock valued at $2,915,000 after acquiring an additional 5,295 shares in the last quarter. Institutional investors and hedge funds own 22.28% of the company’s stock.

Several research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on Vmware from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Tuesday, August 15th. Citigroup Inc. upped their price objective on Vmware from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Drexel Hamilton reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Vmware in a research note on Thursday. Mizuho upped their price objective on Vmware from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, August 14th. Finally, Robert W. Baird set a $115.00 price objective on Vmware and gave the company a “buy” rating in a research note on Monday, August 14th. Fifteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Vmware presently has an average rating of “Buy” and an average target price of $114.91.

Vmware Company Profile

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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