VMware (VMW) Shares Gap Down to $116.40
VMware, Inc. (NYSE:VMW) gapped down prior to trading on Tuesday . The stock had previously closed at $112.73, but opened at $116.40. VMware shares last traded at $115.01, with a volume of 1910206 shares trading hands.
VMW has been the subject of a number of research reports. Cowen raised shares of VMware from a “market perform” rating to an “outperform” rating in a report on Thursday, January 11th. Zacks Investment Research cut shares of VMware from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Barclays reaffirmed a “buy” rating on shares of VMware in a report on Friday, November 10th. KeyCorp raised shares of VMware from a “sector weight” rating to an “overweight” rating and set a $142.00 target price for the company in a report on Monday, December 18th. Finally, Royal Bank of Canada upped their target price on shares of VMware to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 17th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. VMware presently has a consensus rating of “Buy” and an average price target of $130.00.
The company has a debt-to-equity ratio of 0.51, a current ratio of 2.86 and a quick ratio of 2.86. The company has a market cap of $46,586.63, a PE ratio of 32.44, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81.
In other VMware news, COO Rangarajan (Raghu) Raghuram sold 23,381 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $120.40, for a total transaction of $2,815,072.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Sanjay Poonen sold 2,764 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $118.50, for a total transaction of $327,534.00. Following the transaction, the chief operating officer now owns 189,391 shares in the company, valued at $22,442,833.50. The disclosure for this sale can be found here. Insiders have sold 38,726 shares of company stock worth $4,774,927 over the last 90 days. 34.40% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of VMW. ProShare Advisors LLC acquired a new position in VMware during the second quarter worth about $223,000. PNC Financial Services Group Inc. grew its position in shares of VMware by 3.2% in the second quarter. PNC Financial Services Group Inc. now owns 8,638 shares of the virtualization software provider’s stock valued at $754,000 after purchasing an additional 266 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of VMware by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 89,919 shares of the virtualization software provider’s stock valued at $7,862,000 after purchasing an additional 796 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of VMware in the second quarter valued at approximately $764,000. Finally, Macquarie Group Ltd. grew its position in shares of VMware by 44.9% in the second quarter. Macquarie Group Ltd. now owns 10,000 shares of the virtualization software provider’s stock valued at $874,000 after purchasing an additional 3,100 shares during the last quarter. Institutional investors own 22.45% of the company’s stock.
VMware Company Profile
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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