VMware Inc. (VMW) Stock Rating Reaffirmed by RBC Capital Markets
VMware Inc. (NYSE:VMW)‘s stock had its “outperform” rating reaffirmed by RBC Capital Markets in a research report issued to clients and investors on Monday.
A number of other research analysts also recently commented on VMW. Summit Redstone reiterated a “hold” rating and set a $60.00 price objective on shares of VMware in a research note on Monday, July 11th. Vetr upgraded shares of VMware from a “hold” rating to a “buy” rating and set a $63.40 price objective on the stock in a research note on Monday, June 20th. Citigroup Inc. downgraded shares of VMware from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $99.00 to $79.00 in a research note on Tuesday, July 26th. MKM Partners increased their price objective on shares of VMware from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. Finally, Robert W. Baird reiterated a “hold” rating on shares of VMware in a research note on Friday, September 9th. One analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. VMware currently has a consensus rating of “Hold” and a consensus price target of $75.64.
Shares of VMware (NYSE:VMW) opened at 73.13 on Monday. The stock has a 50 day moving average of $73.38 and a 200 day moving average of $64.89. The stock has a market cap of $31.04 billion, a P/E ratio of 29.46 and a beta of 1.24. VMware has a one year low of $43.25 and a one year high of $76.99.
In other VMware news, insider P. Kevan Krysler sold 6,988 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $72.40, for a total transaction of $505,931.20. Following the completion of the transaction, the insider now owns 78,654 shares of the company’s stock, valued at approximately $5,694,549.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP S. Dawn Smith sold 977 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $73.59, for a total value of $71,897.43. Following the transaction, the vice president now directly owns 54,653 shares of the company’s stock, valued at approximately $4,021,914.27. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VMW. Pacer Advisors Inc. raised its position in VMware by 10.5% in the second quarter. Pacer Advisors Inc. now owns 1,773 shares of the virtualization software provider’s stock worth $101,000 after buying an additional 168 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of VMware during the first quarter valued at about $106,000. Advisor Group Inc. purchased a new position in shares of VMware during the second quarter valued at about $163,000. Amalgamated Bank purchased a new position in shares of VMware during the second quarter valued at about $252,000. Finally, WMS Partners LLC purchased a new position in shares of VMware during the second quarter valued at about $206,000. 22.02% of the stock is owned by institutional investors and hedge funds.
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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