Ameriprise Financial Inc. Raises Position in VMware Inc. (VMW)
Ameriprise Financial Inc. increased its stake in shares of VMware Inc. (NYSE:VMW) by 24.8% during the second quarter, Holdings Channel reports. The firm owned 102,271 shares of the virtualization software provider’s stock after buying an additional 20,293 shares during the period. Ameriprise Financial Inc.’s holdings in VMware were worth $5,852,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC bought a new position in VMware during the first quarter valued at approximately $106,000. Acrospire Investment Management LLC bought a new position in VMware during the first quarter valued at approximately $183,000. Capstone Asset Management Co. bought a new position in VMware during the second quarter valued at approximately $211,000. Glenview State Bank Trust DEPT. bought a new position in VMware during the second quarter valued at approximately $229,000. Finally, New Amsterdam Partners LLC NY bought a new position in VMware during the second quarter valued at approximately $265,000. 22.06% of the stock is owned by institutional investors and hedge funds.
VMware Inc. (NYSE:VMW) traded up 0.01% during trading on Wednesday, reaching $73.41. 417,365 shares of the company were exchanged. VMware Inc. has a 12 month low of $43.25 and a 12 month high of $76.99. The firm has a market capitalization of $31.16 billion, a PE ratio of 29.58 and a beta of 1.24. The stock has a 50 day moving average price of $73.61 and a 200 day moving average price of $64.12.
VMware (NYSE:VMW) last released its earnings results on Monday, July 18th. The virtualization software provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.02. VMware had a net margin of 15.47% and a return on equity of 15.66%. The firm earned $1.69 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts expect that VMware Inc. will post $4.29 EPS for the current fiscal year.
Several research analysts have commented on the stock. Barclays PLC assumed coverage on shares of VMware in a report on Tuesday, September 13th. They set an “equal weight” rating and a $82.00 price objective for the company. Jefferies Group increased their price target on shares of VMware from $84.00 to $89.00 and gave the company a “buy” rating in a report on Monday, September 12th. Summit Research initiated coverage on shares of VMware in a report on Monday, July 11th. They issued a “hold” rating for the company. Mizuho reaffirmed a “neutral” rating and issued a $66.00 price target (up previously from $61.00) on shares of VMware in a report on Thursday, September 1st. Finally, Deutsche Bank AG increased their price target on shares of VMware from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, twenty-eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $76.04.
In other news, VP S. Dawn Smith sold 977 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $73.59, for a total transaction of $71,897.43. Following the completion of the transaction, the vice president now owns 54,653 shares of the company’s stock, valued at $4,021,914.27. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider P. Kevan Krysler sold 6,988 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $72.40, for a total transaction of $505,931.20. Following the transaction, the insider now directly owns 78,654 shares of the company’s stock, valued at approximately $5,694,549.60. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
VMware, Inc is a provider of virtualization infrastructure solutions and cloud infrastructure solutions. The Company develops and markets its product and service offerings within three product groups, which include software-defined data center (SDDC), hybrid cloud computing and end-user computing (EUC).
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