Sei Investments Co. lowered its position in VMware, Inc. (NYSE:VMW) by 23.3% in the 2nd quarter, Holdings Channel reports. The fund owned 16,625 shares of the virtualization software provider’s stock after selling 5,055 shares during the period. Sei Investments Co.’s holdings in VMware were worth $2,443,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Jericho Capital Asset Management L.P. grew its holdings in VMware by 59.6% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 1,823,078 shares of the virtualization software provider’s stock valued at $221,085,000 after buying an additional 680,798 shares in the last quarter. DnB Asset Management AS purchased a new position in VMware during the 2nd quarter valued at about $27,992,000. Cornerstone Wealth Management LLC purchased a new position in VMware during the 2nd quarter valued at about $570,000. Wells Fargo & Company MN grew its holdings in VMware by 6.9% during the 2nd quarter. Wells Fargo & Company MN now owns 945,327 shares of the virtualization software provider’s stock valued at $138,934,000 after buying an additional 61,088 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in VMware by 165.2% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 91,101 shares of the virtualization software provider’s stock valued at $11,048,000 after buying an additional 56,755 shares in the last quarter. 20.11% of the stock is owned by institutional investors.
A number of research firms have weighed in on VMW. Zacks Investment Research raised VMware from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. BMO Capital Markets lifted their target price on VMware from $155.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, July 3rd. Stifel Nicolaus lifted their target price on VMware from $122.00 to $142.00 and gave the company a “hold” rating in a report on Friday, August 24th. Royal Bank of Canada lifted their target price on VMware to $180.00 and gave the company an “outperform” rating in a report on Friday, August 24th. Finally, Barclays reiterated an “overweight” rating and set a $172.00 price target (up previously from $160.00) on shares of VMware in a research report on Tuesday, July 3rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $153.88.
In related news, insider P. Kevan Krysler sold 13,485 shares of the business’s stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $158.63, for a total value of $2,139,125.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Rangarajan (Raghu) Raghuram sold 15,154 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $154.80, for a total value of $2,345,839.20. Following the completion of the sale, the chief operating officer now owns 297,193 shares of the company’s stock, valued at approximately $46,005,476.40. The disclosure for this sale can be found here. Insiders sold a total of 93,739 shares of company stock valued at $14,687,929 in the last 90 days. 29.90% of the stock is currently owned by corporate insiders.
Shares of VMW opened at $152.77 on Wednesday. The stock has a market cap of $62.36 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 2.45 and a beta of 0.57. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.44. VMware, Inc. has a 12-month low of $105.89 and a 12-month high of $165.00.
VMware (NYSE:VMW) last released its earnings results on Thursday, August 23rd. The virtualization software provider reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.05. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. VMware had a return on equity of 21.06% and a net margin of 18.77%. VMware’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS. equities analysts forecast that VMware, Inc. will post 4.73 earnings per share for the current year.
VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses 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; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.
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