VMware’s (VMW) “Market Perform” Rating Reaffirmed at Wells Fargo & Co
Wells Fargo & Co restated their market perform rating on shares of VMware (NYSE:VMW) in a research report released on Wednesday. Wells Fargo & Co currently has a $125.00 price target on the virtualization software provider’s stock, up from their previous price target of $110.00.
A number of other analysts have also recently weighed in on the stock. Deutsche Bank raised their price objective on shares of VMware from $145.00 to $175.00 and gave the stock a buy rating in a report on Monday, January 29th. Cowen raised shares of VMware from a market perform rating to an outperform rating in a report on Thursday, January 11th. Barclays reissued a buy rating on shares of VMware in a report on Friday, November 10th. Nomura began coverage on shares of VMware in a report on Tuesday, January 23rd. They set a reduce rating and a $108.00 price objective on the stock. Finally, KeyCorp raised shares of VMware from a sector weight rating to an overweight rating and set a $142.00 target price on the stock in a report on Monday, December 18th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $130.96.
Shares of VMware (NYSE VMW) opened at $116.34 on Wednesday. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.51. VMware has a 1-year low of $85.45 and a 1-year high of $165.00. The firm has a market cap of $46,900.00, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 2.57 and a beta of 0.72.
In other VMware news, COO Sanjay Poonen sold 2,764 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $118.50, for a total value of $327,534.00. Following the transaction, the chief operating officer now directly owns 189,391 shares of the company’s stock, valued at approximately $22,442,833.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rangarajan (Raghu) Raghuram sold 23,381 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $120.40, for a total transaction of $2,815,072.40. The disclosure for this sale can be found here. Insiders sold a total of 38,726 shares of company stock worth $4,774,927 over the last three months. 34.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Coatue Management LLC purchased a new stake in shares of VMware during the 4th quarter worth $156,584,000. Allianz Asset Management GmbH boosted its position in shares of VMware by 3,351.4% during the 4th quarter. Allianz Asset Management GmbH now owns 541,010 shares of the virtualization software provider’s stock worth $67,799,000 after purchasing an additional 525,335 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of VMware by 19.9% during the 4th quarter. Renaissance Technologies LLC now owns 2,656,100 shares of the virtualization software provider’s stock worth $332,862,000 after purchasing an additional 441,500 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of VMware by 4,589.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 415,050 shares of the virtualization software provider’s stock worth $52,014,000 after purchasing an additional 406,200 shares in the last quarter. Finally, Fred Alger Management Inc. boosted its position in shares of VMware by 54,509.5% during the 4th quarter. Fred Alger Management Inc. now owns 356,054 shares of the virtualization software provider’s stock worth $44,621,000 after purchasing an additional 355,402 shares in the last quarter. 21.60% of the stock is currently owned by institutional investors.
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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