Vmware, Inc. (VMW) Position Maintained by Barings LLC
Barings LLC continued to hold its position in shares of Vmware, Inc. (NYSE:VMW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,180 shares of the virtualization software provider’s stock at the close of the 2nd quarter. Barings LLC’s holdings in Vmware were worth $1,399,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in shares of Vmware in the 2nd quarter worth about $866,000. Royal Bank of Canada grew its holdings in shares of Vmware by 69.0% in the 2nd quarter. Royal Bank of Canada now owns 880,908 shares of the virtualization software provider’s stock worth $77,018,000 after purchasing an additional 359,741 shares during the last quarter. AHL Partners LLP grew its holdings in shares of Vmware by 24.3% in the 2nd quarter. AHL Partners LLP now owns 85,278 shares of the virtualization software provider’s stock worth $7,456,000 after purchasing an additional 16,648 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Vmware in the 2nd quarter worth about $764,000. Finally, Clinton Group Inc. grew its holdings in shares of Vmware by 12.4% in the 2nd quarter. Clinton Group Inc. now owns 70,530 shares of the virtualization software provider’s stock worth $6,166,000 after purchasing an additional 7,787 shares during the last quarter. 21.82% of the stock is currently owned by institutional investors and hedge funds.
Vmware, Inc. (VMW) opened at 111.79 on Wednesday. Vmware, Inc. has a 52 week low of $72.27 and a 52 week high of $112.50. The stock has a 50 day moving average of $108.02 and a 200 day moving average of $96.13. The company has a market cap of $45.72 billion, a price-to-earnings ratio of 40.24 and a beta of 0.72.
Vmware (NYSE:VMW) last announced its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.04. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the business posted $0.97 earnings per share. The firm’s revenue was up 12.2% on a year-over-year basis. Equities research analysts predict that Vmware, Inc. will post $5.07 earnings per share for the current fiscal year.
Vmware announced that its Board of Directors has approved a stock buyback plan on Monday, August 14th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the virtualization software provider to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several research firms have recently weighed in on VMW. Berenberg Bank reaffirmed a “hold” rating and issued a $94.00 target price on shares of Vmware in a report on Tuesday, August 29th. Bank of America Corporation raised shares of Vmware from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $108.00 to $120.00 in a report on Friday, August 25th. Zacks Investment Research lowered shares of Vmware from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Robert W. Baird reissued a “buy” rating and set a $125.00 price objective on shares of Vmware in a report on Wednesday, October 4th. Finally, Morgan Stanley reissued an “overweight” rating and set a $123.00 price objective (up previously from $115.00) on shares of Vmware in a report on Wednesday, September 27th. Thirteen investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Vmware currently has a consensus rating of “Buy” and an average target price of $112.28.
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In related news, insider P. Kevan Krysler sold 13,751 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $107.69, for a total value of $1,480,845.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Sanjay Poonen sold 1,134 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $106.51, for a total value of $120,782.34. Following the completion of the sale, the chief operating officer now owns 192,774 shares in the company, valued at $20,532,358.74. The disclosure for this sale can be found here. Insiders sold 20,885 shares of company stock worth $2,248,548 over the last quarter. 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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