VMware Inc. (VMW) Earns “Equal Weight” Rating from Pacific Crest
VMware Inc. (NYSE:VMW)‘s stock had its “equal weight” rating reissued by investment analysts at Pacific Crest in a report released on Monday.
A number of other analysts also recently issued reports on the stock. Citigroup Inc. restated a “neutral” rating on shares of VMware in a report on Monday. RBC Capital Markets restated an “outperform” rating on shares of VMware in a report on Monday. Deutsche Bank AG raised their price target on shares of VMware from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Friday. Morgan Stanley restated a “buy” rating and set a $86.00 price target on shares of VMware in a report on Monday, September 26th. Finally, Zacks Investment Research downgraded shares of VMware from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. One research analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $75.64.
Shares of VMware (NYSE:VMW) traded down 0.116% during trading on Monday, hitting $72.895. The stock had a trading volume of 266,637 shares. The stock has a market cap of $30.94 billion, a P/E ratio of 29.369 and a beta of 1.24. The stock’s 50 day moving average price is $73.48 and its 200-day moving average price is $64.40. VMware has a one year low of $43.25 and a one year high of $76.99.
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In related news, VP S. Dawn Smith sold 977 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $73.59, for a total transaction of $71,897.43. Following the transaction, the vice president now owns 54,653 shares of the company’s stock, valued at $4,021,914.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider P. Kevan Krysler sold 6,988 shares of the company’s 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 transaction, the insider now directly owns 78,654 shares in the company, valued at approximately $5,694,549.60. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Forte Capital LLC ADV increased its position in VMware by 12.4% in the third quarter. Forte Capital LLC ADV now owns 12,275 shares of the virtualization software provider’s stock worth $900,000 after buying an additional 1,350 shares in the last quarter. Fox Run Management L.L.C. bought a new position in VMware during the third quarter worth $491,000. Pensionfund Sabic bought a new position in VMware during the third quarter worth $1,614,000. Pensionfund DSM Netherlands bought a new position in VMware during the third quarter worth $3,447,000. Finally, Algert Global LLC increased its position in VMware by 15.0% in the third quarter. Algert Global LLC now owns 14,931 shares of the virtualization software provider’s stock worth $1,095,000 after buying an additional 1,944 shares in the last quarter. 22.02% of the stock is currently owned by institutional investors and hedge funds.
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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