VMware Inc. (VMW) Sees Unusually-High Trading Volume
Shares of VMware Inc. (NYSE:VMW) saw an uptick in trading volume on Tuesday . 4,656,248 shares changed hands during trading, an increase of 87% from the previous session’s volume of 2,490,238 shares.The stock last traded at $74.22 and had previously closed at $75.23.
A number of research firms have recently commented on VMW. SunTrust Banks Inc. upgraded VMware from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $64.00 to $92.00 in a research note on Tuesday. Vetr upgraded VMware from a “sell” rating to a “hold” rating and set a $73.67 price objective on the stock in a research note on Monday, July 25th. Citigroup Inc. cut VMware from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $99.00 to $79.00 in a research note on Tuesday, July 26th. Sanford C. Bernstein restated a “market perform” rating and issued a $67.00 price objective on shares of VMware in a research note on Tuesday, July 26th. Finally, Zacks Investment Research upgraded VMware from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Saturday, July 23rd. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $77.78.
The company’s 50 day moving average is $70.54 and its 200-day moving average is $59.28. The firm has a market cap of $31.50 billion and a P/E ratio of 29.90.
VMware (NYSE:VMW) last posted its quarterly earnings data on Monday, July 18th. The virtualization software provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.02. During the same quarter in the previous year, the firm earned $0.93 EPS. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.68 billion. VMware’s revenue was up 11.3% compared to the same quarter last year. Equities analysts predict that VMware Inc. will post $4.29 EPS for the current fiscal year.
In related news, insider P. Kevan Krysler sold 6,988 shares of the business’s stock in a transaction 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 in the company, valued at approximately $5,694,549.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
An institutional investor recently raised its position in VMware stock. BlackRock Advisors LLC raised its position in shares of VMware Inc. (NYSE:VMW) by 3,634.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 434,035 shares of the virtualization software provider’s stock after buying an additional 422,414 shares during the period. BlackRock Advisors LLC owned about 0.10% of VMware worth $24,553,000 as of its most recent filing with the SEC.
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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