Russell Investments Group Ltd. increased its stake in shares of Vmware, Inc. (NYSE:VMW) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 211,067 shares of the virtualization software provider’s stock after buying an additional 4,623 shares during the period. Russell Investments Group Ltd. owned 0.05% of Vmware worth $18,452,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of VMW. Boston Advisors LLC bought a new position in Vmware during the first quarter valued at about $14,209,000. Wells Fargo & Company MN boosted its position in Vmware by 163.9% in the first quarter. Wells Fargo & Company MN now owns 1,612,242 shares of the virtualization software provider’s stock valued at $148,552,000 after buying an additional 1,001,289 shares during the period. Ameriprise Financial Inc. boosted its position in Vmware by 34.1% in the first quarter. Ameriprise Financial Inc. now owns 103,084 shares of the virtualization software provider’s stock valued at $9,495,000 after buying an additional 26,199 shares during the period. Forte Capital LLC ADV boosted its position in Vmware by 19.7% in the first quarter. Forte Capital LLC ADV now owns 19,595 shares of the virtualization software provider’s stock valued at $1,805,000 after buying an additional 3,220 shares during the period. Finally, Fisher Asset Management LLC bought a new position in Vmware during the first quarter valued at about $338,000. Institutional investors and hedge funds own 21.82% of the company’s stock.
Shares of Vmware, Inc. (NYSE VMW) traded up 0.52% on Friday, reaching $96.27. 770,989 shares of the company traded hands. Vmware, Inc. has a 52-week low of $71.81 and a 52-week high of $98.20. The stock has a 50 day moving average of $91.66 and a 200 day moving average of $91.57. The stock has a market cap of $39.32 billion, a price-to-earnings ratio of 34.65 and a beta of 0.77.
Vmware (NYSE:VMW) last announced its quarterly earnings data on Thursday, June 1st. The virtualization software provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Vmware had a net margin of 17.36% and a return on equity of 17.19%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts expect that Vmware, Inc. will post $5.01 earnings per share for the current year.
Vmware announced that its board has authorized a share repurchase 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 repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
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A number of analysts recently weighed in on VMW shares. BMO Capital Markets raised their target price on shares of Vmware from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Tuesday. MKM Partners restated a “buy” rating and set a $110.00 target price (up from $100.00) on shares of Vmware in a report on Thursday, June 1st. Royal Bank Of Canada raised their target price on shares of Vmware from $97.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, May 31st. Citigroup Inc. raised their target price on shares of Vmware from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Finally, Robert W. Baird upgraded shares of Vmware from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $90.00 to $115.00 in a report on Wednesday, May 31st. Eighteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Vmware has an average rating of “Buy” and an average target price of $101.12.
In other news, EVP Maurizio Carli sold 11,237 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $94.66, for a total value of $1,063,694.42. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Rajiv Ramaswami sold 20,457 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $27,557,252.64. The disclosure for this sale can be found here. Company insiders own 0.52% 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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