Holderness Investments Co. lifted its position in VMware, Inc. (NYSE:VMW) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,125 shares of the virtualization software provider’s stock after acquiring an additional 75 shares during the period. Holderness Investments Co.’s holdings in VMware were worth $523,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Clarus Wealth Advisors acquired a new stake in VMware during the 2nd quarter worth approximately $29,000. Coastal Capital Group Inc. bought a new position in shares of VMware during the 2nd quarter worth approximately $29,000. TRUE Private Wealth Advisors bought a new position in shares of VMware during the 2nd quarter worth approximately $31,000. AdvisorNet Financial Inc grew its stake in shares of VMware by 629.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 226 shares of the virtualization software provider’s stock worth $38,000 after acquiring an additional 195 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of VMware during the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 17.82% of the company’s stock.
Shares of NYSE:VMW traded up $1.37 during midday trading on Friday, hitting $143.72. The stock had a trading volume of 2,510,800 shares, compared to its average volume of 1,178,576. VMware, Inc. has a 12 month low of $129.33 and a 12 month high of $206.80. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 7.57. The business’s 50-day simple moving average is $167.84 and its 200-day simple moving average is $177.84. The company has a market cap of $62.65 billion, a P/E ratio of 29.15, a PEG ratio of 2.36 and a beta of 0.81.
VMware (NYSE:VMW) last released its quarterly earnings data on Thursday, May 30th. The virtualization software provider reported $1.32 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that VMware, Inc. will post 4.87 earnings per share for the current year.
In other VMware news, insider P. Kevan Krysler sold 2,661 shares of VMware 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 transaction, the insider now directly owns 34,774 shares of the company’s stock, valued at $6,049,285.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Patrick P. Gelsinger sold 20,000 shares of VMware 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 transaction, the chief executive officer now directly owns 445,214 shares of the company’s stock, valued at $80,138,520. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,053 shares of company stock valued at $14,639,696. Company insiders own 28.80% of the company’s stock.
VMW has been the subject of several research reports. Barclays raised their price target on shares of VMware from $200.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Deutsche Bank raised their price target on shares of VMware from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Oppenheimer raised their price target on shares of VMware from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Wedbush reaffirmed an “outperform” rating on shares of VMware in a research note on Thursday, July 18th. Finally, Maxim Group reissued a “hold” rating on shares of VMware in a research note on Friday, August 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $192.23.
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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