United Capital Financial Advisers LLC grew its position in VMware, Inc. (NYSE:VMW) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,289 shares of the virtualization software provider’s stock after purchasing an additional 1,507 shares during the period. United Capital Financial Advisers LLC’s holdings in VMware were worth $8,242,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Clarus Wealth Advisors purchased a new stake in VMware during the second quarter worth about $29,000. Coastal Capital Group Inc. purchased a new stake in VMware during the second quarter worth about $29,000. TRUE Private Wealth Advisors purchased a new stake in VMware during the second quarter worth about $31,000. AdvisorNet Financial Inc increased its holdings in VMware by 629.0% during the second quarter. AdvisorNet Financial Inc now owns 226 shares of the virtualization software provider’s stock worth $38,000 after buying an additional 195 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in VMware during the first quarter worth about $54,000. Institutional investors own 17.49% of the company’s stock.
In other VMware news, CAO P. Kevan Krysler sold 1,589 shares of VMware stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $145.00, for a total transaction of $230,405.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy Fliegelman Olli sold 2,753 shares of VMware stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $150.00, for a total transaction of $412,950.00. Following the sale, the vice president now owns 38,728 shares of the company’s stock, valued at $5,809,200. The disclosure for this sale can be found here. Insiders sold 69,120 shares of company stock valued at $10,678,437 over the last 90 days. 28.80% of the stock is owned by company insiders.
A number of analysts recently issued reports on VMW shares. Credit Suisse Group decreased their price objective on shares of VMware from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Friday, August 23rd. Citigroup cut their target price on shares of VMware from $212.00 to $183.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Zacks Investment Research lowered shares of VMware from a “hold” rating to a “sell” rating and set a $178.00 target price for the company. in a research report on Wednesday, June 5th. Nomura set a $114.00 target price on shares of VMware and gave the stock a “sell” rating in a research report on Thursday, August 29th. Finally, Royal Bank of Canada cut their target price on shares of VMware from $210.00 to $190.00 and set an “outperform” rating for the company in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $175.09.
Shares of VMW stock traded down $2.93 during trading hours on Friday, reaching $151.11. The stock had a trading volume of 1,484,197 shares, compared to its average volume of 2,204,605. The stock’s fifty day simple moving average is $152.38 and its 200 day simple moving average is $174.96. The company has a current ratio of 0.96, a quick ratio of 0.97 and a debt-to-equity ratio of 0.93. VMware, Inc. has a 12 month low of $128.69 and a 12 month high of $206.80. The firm has a market capitalization of $63.03 billion, a PE ratio of 30.65, a PEG ratio of 2.40 and a beta of 0.89.
VMware (NYSE:VMW) last released its quarterly earnings data on Thursday, August 22nd. The virtualization software provider reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.45. VMware had a net margin of 66.00% and a return on equity of 47.55%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $1.54 earnings per share. VMware’s revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts anticipate that VMware, Inc. will post 4.86 EPS for the current fiscal year.
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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