Strategic Global Advisors LLC increased its position in shares of Vmware, Inc. (NYSE:VMW) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,370 shares of the virtualization software provider’s stock after purchasing an additional 200 shares during the period. Strategic Global Advisors LLC’s holdings in Vmware were worth $644,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Vmware during the 1st quarter valued at $141,000. Penserra Capital Management LLC raised its position in shares of Vmware by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock valued at $181,000 after purchasing an additional 240 shares during the period. BlueMountain Capital Management LLC bought a new stake in shares of Vmware during the 2nd quarter valued at $191,000. BB&T Securities LLC bought a new stake in shares of Vmware during the 1st quarter valued at $209,000. Finally, Eagle Global Advisors LLC bought a new stake in shares of Vmware during the 2nd quarter valued at $203,000. Hedge funds and other institutional investors own 21.81% of the company’s stock.
In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the completion of the transaction, the chief operating officer now owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $107.82, for a total transaction of $646,920.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,342 shares of company stock valued at $4,045,490. 0.52% of the stock is currently owned by insiders.
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Shares of Vmware, Inc. (NYSE:VMW) traded down 0.45% during midday trading on Friday, reaching $110.25. 1,257,925 shares of the company were exchanged. The firm has a 50-day moving average of $100.28 and a 200 day moving average of $93.70. Vmware, Inc. has a 52 week low of $72.05 and a 52 week high of $111.61. The firm has a market capitalization of $45.09 billion, a P/E ratio of 39.69 and a beta of 0.74.
Vmware (NYSE:VMW) last announced its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Vmware had a net margin of 17.81% and a return on equity of 18.06%. Vmware’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 earnings per share. On average, equities research analysts expect that Vmware, Inc. will post $5.06 EPS for the current year.
Vmware declared that its Board of Directors has authorized a stock buyback program on Monday, August 14th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the virtualization software provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several brokerages have recently commented on VMW. Berenberg Bank restated a “hold” rating and set a $94.00 price objective on shares of Vmware in a research report on Tuesday, August 29th. Bank of America Corporation upgraded shares of Vmware from a “neutral” rating to a “buy” rating and raised their price objective for the company from $108.00 to $120.00 in a research report on Friday, August 25th. Stifel Nicolaus upgraded shares of Vmware from a “hold” rating to a “buy” rating and raised their price objective for the company from $96.00 to $109.00 in a research report on Wednesday, June 21st. Royal Bank Of Canada raised their price objective on shares of Vmware from $97.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. Finally, Maxim Group restated a “hold” rating and set a $105.00 price objective on shares of Vmware in a research report on Friday, August 25th. Thirteen research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Vmware presently has an average rating of “Buy” and a consensus price target of $112.00.
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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