Sawgrass Asset Management LLC grew its stake in VMware, Inc. (NYSE:VMW) by 25.1% during the 1st quarter, Holdings Channel reports. The firm owned 150,705 shares of the virtualization software provider’s stock after buying an additional 30,198 shares during the period. Sawgrass Asset Management LLC’s holdings in VMware were worth $27,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of VMW. Motley Fool Asset Management LLC boosted its position in VMware by 35.9% in the first quarter. Motley Fool Asset Management LLC now owns 7,284 shares of the virtualization software provider’s stock valued at $1,315,000 after buying an additional 1,926 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in VMware in the first quarter valued at about $256,000. Raymond James & Associates boosted its position in VMware by 4.5% in the first quarter. Raymond James & Associates now owns 156,770 shares of the virtualization software provider’s stock valued at $28,299,000 after buying an additional 6,793 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in VMware by 11.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,637 shares of the virtualization software provider’s stock valued at $2,281,000 after buying an additional 1,254 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in VMware by 5.8% in the first quarter. CIBC Asset Management Inc now owns 17,174 shares of the virtualization software provider’s stock valued at $3,100,000 after buying an additional 949 shares in the last quarter. Institutional investors own 17.74% of the company’s stock.
A number of research firms have commented on VMW. Barclays boosted their price target on shares of VMware from $200.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday. Zacks Investment Research lowered shares of VMware from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Wedbush boosted their target price on shares of VMware from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. KeyCorp boosted their target price on shares of VMware from $192.00 to $206.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Co boosted their target price on shares of VMware from $155.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $187.57.
In other news, VP Amy Fliegelman Olli sold 1,723 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $178.98, for a total value of $308,382.54. Following the completion of the transaction, the vice president now owns 34,332 shares in the company, valued at $6,144,741.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rajiv Ramaswami sold 14,862 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $200.36, for a total transaction of $2,977,750.32. Following the completion of the transaction, the chief operating officer now owns 234,273 shares of the company’s stock, valued at approximately $46,938,938.28. The disclosure for this sale can be found here. Insiders sold 315,896 shares of company stock valued at $58,151,231 in the last quarter. Corporate insiders own 29.90% of the company’s stock.
NYSE VMW traded down $1.12 during trading on Friday, reaching $204.40. 246,313 shares of the stock traded hands, compared to its average volume of 890,261. The stock has a market cap of $82.61 billion, a P/E ratio of 41.46, a P/E/G ratio of 3.09 and a beta of 0.81. The company has a debt-to-equity ratio of 7.70, a quick ratio of 0.99 and a current ratio of 0.99. VMware, Inc. has a fifty-two week low of $129.33 and a fifty-two week high of $206.80.
VMware (NYSE:VMW) last issued its quarterly earnings data on Thursday, February 28th. The virtualization software provider reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.10. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.50 billion. VMware had a net margin of 26.99% and a return on equity of 25.50%. During the same quarter in the previous year, the company earned $1.68 earnings per share. Analysts predict that VMware, Inc. will post 4.87 earnings per share for the current fiscal year.
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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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