Meru Capital Group LP Purchases New Stake in VMware (VMW)
Meru Capital Group LP purchased a new position in shares of VMware (NYSE:VMW) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,250 shares of the virtualization software provider’s stock, valued at approximately $758,000. VMware comprises approximately 2.4% of Meru Capital Group LP’s portfolio, making the stock its 13th biggest holding.
A number of other institutional investors and hedge funds also recently bought and sold shares of VMW. Quantitative Systematic Strategies LLC bought a new position in VMware during the 4th quarter worth approximately $209,000. Victory Capital Management Inc. grew its position in VMware by 13.1% during the 4th quarter. Victory Capital Management Inc. now owns 19,778 shares of the virtualization software provider’s stock worth $2,479,000 after acquiring an additional 2,288 shares during the last quarter. US Bancorp DE grew its position in VMware by 33.5% during the 4th quarter. US Bancorp DE now owns 33,399 shares of the virtualization software provider’s stock worth $4,186,000 after acquiring an additional 8,387 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in VMware by 3.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 13,983 shares of the virtualization software provider’s stock worth $1,752,000 after acquiring an additional 455 shares during the last quarter. Finally, Calton & Associates Inc. bought a new position in VMware during the 4th quarter worth approximately $338,000. Institutional investors and hedge funds own 20.28% of the company’s stock.
In other VMware news, COO Rajiv Ramaswami sold 30,000 shares of VMware stock in a transaction on Monday, June 4th. The stock was sold at an average price of $142.66, for a total transaction of $4,279,800.00. Following the completion of the transaction, the chief operating officer now owns 266,057 shares in the company, valued at $37,955,691.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 34.40% of the stock is currently owned by insiders.
VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, May 31st. The virtualization software provider reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.11. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.96 billion. VMware had a return on equity of 20.44% and a net margin of 15.61%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 earnings per share. research analysts predict that VMware will post 4.71 EPS for the current fiscal year.
Several research firms recently issued reports on VMW. BMO Capital Markets reduced their price target on VMware from $142.00 to $138.00 and set an “outperform” rating on the stock in a research report on Friday, March 2nd. Royal Bank of Canada lifted their price objective on VMware from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, June 1st. Wells Fargo & Co reiterated a “market perform” rating and issued a $125.00 price objective (up from $110.00) on shares of VMware in a research report on Wednesday, February 28th. Credit Suisse Group lifted their price objective on VMware from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, June 1st. Finally, Oppenheimer lifted their price objective on VMware from $135.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nineteen have issued a buy rating to the stock. VMware has a consensus rating of “Buy” and an average price target of $139.54.
VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.
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