Riverhead Capital Management LLC Increases Stake in Vmware, Inc. (VMW)
Riverhead Capital Management LLC grew its position in Vmware, Inc. (NYSE:VMW) by 32.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 31,719 shares of the virtualization software provider’s stock after acquiring an additional 7,719 shares during the period. Riverhead Capital Management LLC’s holdings in Vmware were worth $2,773,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Vmware by 4,817.7% in the 1st quarter. BlackRock Inc. now owns 5,098,863 shares of the virtualization software provider’s stock valued at $469,811,000 after acquiring an additional 4,995,179 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Vmware by 9.9% in the 1st quarter. Vanguard Group Inc. now owns 3,930,665 shares of the virtualization software provider’s stock valued at $362,171,000 after acquiring an additional 352,516 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Vmware by 10.6% in the 1st quarter. Clearbridge Investments LLC now owns 2,556,102 shares of the virtualization software provider’s stock valued at $235,519,000 after acquiring an additional 244,512 shares during the last quarter. FIL Ltd lifted its stake in shares of Vmware by 2.0% in the 1st quarter. FIL Ltd now owns 2,359,764 shares of the virtualization software provider’s stock valued at $217,429,000 after acquiring an additional 45,525 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Vmware by 8.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,319,421 shares of the virtualization software provider’s stock valued at $202,786,000 after acquiring an additional 184,648 shares during the last quarter. Institutional investors own 21.81% of the company’s stock.
VMW has been the subject of a number of research reports. Cowen and Company increased their price target on Vmware from $92.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Zacks Investment Research cut Vmware from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Robert W. Baird upgraded Vmware from a “neutral” rating to an “outperform” rating and increased their price target for the company from $90.00 to $115.00 in a research note on Wednesday, May 31st. Royal Bank Of Canada increased their price target on Vmware from $97.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, May 31st. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $95.00 price target on shares of Vmware in a research note on Thursday, June 1st. Thirteen equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Vmware currently has an average rating of “Buy” and an average target price of $111.80.
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Vmware, Inc. (NYSE VMW) opened at 110.43 on Thursday. The stock has a market capitalization of $45.16 billion, a PE ratio of 39.75 and a beta of 0.74. Vmware, Inc. has a 52 week low of $72.05 and a 52 week high of $110.71. The firm has a 50 day moving average of $98.72 and a 200-day moving average of $93.31.
Vmware (NYSE:VMW) last posted its quarterly earnings data on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Vmware had a net margin of 17.81% and a return on equity of 18.06%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. On average, equities analysts predict that Vmware, Inc. will post $5.06 EPS for the current year.
Vmware announced that its board has initiated a share buyback program on Monday, August 14th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the virtualization software provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, COO Rajiv Ramaswami sold 20,457 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the completion of the sale, the chief operating officer now owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider P. Kevan Krysler sold 13,751 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $107.69, for a total transaction of $1,480,845.19. The disclosure for this sale can be found here. Insiders have sold 41,342 shares of company stock valued at $4,045,490 over the last 90 days. 0.52% of the stock is currently owned by company insiders.
VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).
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