VMware Inc. (NYSE:VMW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “VMware provides virtualization solutions from the desktop to the data center. Their solutions enable organizations to aggregate multiple servers, storage infrastructure and networks together into shared pools of capacity that can be allocated dynamically, securely and reliably to applications as needed, increasing hardware utilization and reducing spending. They have expanded their offering with virtual infrastructure automation and management products to address distributed and heterogeneous infrastructure challenges such as system recoverability and reliability, backup and recovery, resource provisioning and management, capacity and performance management and desktop security. They derive a significant majority of their revenues from their indirect sales channel that include distributors, resellers, x86 system vendors and systems integrators. “

Other equities analysts also recently issued reports about the stock. Jefferies Group reiterated a “buy” rating and set a $83.00 price objective on shares of VMware in a research note on Wednesday, July 6th. Vetr upgraded shares of VMware from a “hold” rating to a “buy” rating and set a $63.40 target price for the company in a research note on Monday, June 20th. TheStreet upgraded shares of VMware to a “buy” rating in a research note on Thursday, May 26th. MKM Partners restated a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of VMware in a research note on Tuesday, July 12th. Finally, Drexel Hamilton restated a “buy” rating and issued a $85.00 target price (up from $77.00) on shares of VMware in a research note on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, twenty-eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $77.49.

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VMware (NYSE:VMW) opened at 73.05 on Wednesday. The stock has a market capitalization of $31.00 billion, a price-to-earnings ratio of 29.43 and a beta of 1.30. VMware has a one year low of $43.25 and a one year high of $82.35. The company has a 50-day moving average of $72.60 and a 200-day moving average of $61.72.

VMware (NYSE:VMW) last released its quarterly earnings data on Monday, July 18th. The virtualization software provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.02. VMware had a net margin of 15.47% and a return on equity of 15.66%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm earned $0.93 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts forecast that VMware will post $4.29 EPS for the current fiscal year.

In other VMware news, VP S. Dawn Smith sold 632 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $76.40, for a total value of $48,284.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider P. Kevan Krysler sold 6,988 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $72.40, for a total transaction of $505,931.20. Following the completion of the sale, the insider now directly owns 78,654 shares in the company, valued at $5,694,549.60. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its stake in shares of VMware by 10.5% in the second quarter. Pacer Advisors Inc. now owns 1,773 shares of the virtualization software provider’s stock worth $101,000 after buying an additional 168 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of VMware during the first quarter worth approximately $106,000. Advisor Group Inc. purchased a new stake in shares of VMware during the second quarter worth approximately $163,000. Acrospire Investment Management LLC purchased a new stake in shares of VMware during the first quarter worth approximately $183,000. Finally, WMS Partners LLC purchased a new stake in shares of VMware during the second quarter worth approximately $206,000. 22.06% of the stock is currently owned by institutional investors.

About VMware

VMware, Inc is a provider of virtualization infrastructure solutions and cloud infrastructure solutions. The Company develops and markets its product and service offerings within three product groups, which include software-defined data center (SDDC), hybrid cloud computing and end-user computing (EUC).

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