Wright Investors Service Inc. reduced its holdings in VMware, Inc. (NYSE:VMW) by 20.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,145 shares of the virtualization software provider’s stock after selling 3,163 shares during the period. Wright Investors Service Inc.’s holdings in VMware were worth $2,031,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Clarus Wealth Advisors acquired a new position in VMware in the second quarter valued at approximately $29,000. Coastal Capital Group Inc. bought a new stake in VMware in the second quarter valued at approximately $29,000. TRUE Private Wealth Advisors bought a new stake in VMware in the second quarter valued at approximately $31,000. AdvisorNet Financial Inc increased its stake in VMware by 629.0% in the second quarter. AdvisorNet Financial Inc now owns 226 shares of the virtualization software provider’s stock valued at $38,000 after purchasing an additional 195 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in VMware in the first quarter valued at approximately $51,000. Institutional investors and hedge funds own 17.82% of the company’s stock.
VMW has been the subject of several recent analyst reports. Oppenheimer upped their target price on shares of VMware from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Raymond James upped their target price on shares of VMware from $196.00 to $206.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Morgan Stanley lowered their target price on shares of VMware from $192.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, May 31st. Zacks Investment Research downgraded shares of VMware from a “hold” rating to a “sell” rating and set a $178.00 target price for the company. in a research note on Wednesday, June 5th. Finally, Wedbush reaffirmed an “outperform” rating on shares of VMware in a research note on Thursday, July 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $192.23.
In other news, insider P. Kevan Krysler sold 2,661 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $173.96, for a total transaction of $462,907.56. Following the completion of the sale, the insider now owns 34,774 shares of the company’s stock, valued at $6,049,285.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger sold 20,000 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $180.00, for a total transaction of $3,600,000.00. Following the sale, the chief executive officer now directly owns 445,214 shares of the company’s stock, valued at approximately $80,138,520. The disclosure for this sale can be found here. Insiders have sold 84,053 shares of company stock valued at $14,639,696 in the last three months. 28.80% of the stock is owned by insiders.
Shares of VMW stock traded down $9.94 during trading hours on Thursday, hitting $143.15. 3,002,012 shares of the company were exchanged, compared to its average volume of 1,158,636. The company has a 50 day moving average of $169.03. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 7.57. VMware, Inc. has a 52 week low of $129.33 and a 52 week high of $206.80. The stock has a market cap of $64.76 billion, a P/E ratio of 29.04, a PEG ratio of 2.44 and a beta of 0.81.
VMware (NYSE:VMW) last issued its quarterly earnings data on Thursday, May 30th. The virtualization software provider reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.42. VMware had a net margin of 21.50% and a return on equity of 36.48%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts forecast that VMware, Inc. will post 4.87 earnings per share for the current fiscal year.
VMware Company Profile
VMware, Inc provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; and cloud management products for businesses with automated operation, programmable provisioning, and application monitoring solutions.
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