Egon Durban Sells 666,354 Shares of VMware, Inc. (VMW) Stock
VMware, Inc. (NYSE:VMW) Director Egon Durban sold 666,354 shares of VMware stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $89.14, for a total value of $59,398,795.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
VMware, Inc. (NYSE:VMW) traded down 0.56% during mid-day trading on Tuesday, hitting $94.06. The stock had a trading volume of 887,823 shares. The stock’s 50 day moving average price is $92.23 and its 200 day moving average price is $85.22. The firm has a market capitalization of $38.44 billion, a price-to-earnings ratio of 33.86 and a beta of 0.97. VMware, Inc. has a one year low of $54.44 and a one year high of $95.17.
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Hedge funds have recently added to or reduced their stakes in the company. Financial Architects Inc bought a new position in VMware during the first quarter worth approximately $140,000. Advantage Investment Management LLC bought a new position in VMware during the first quarter worth approximately $139,000. Penserra Capital Management LLC raised its position in VMware by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,840 shares of the virtualization software provider’s stock worth $169,000 after buying an additional 160 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in VMware by 34.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,887 shares of the virtualization software provider’s stock worth $149,000 after buying an additional 483 shares during the period. Finally, VNBTrust National Association bought a new position in VMware during the first quarter worth approximately $203,000. 21.88% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on VMW shares. Royal Bank of Canada reiterated a “buy” rating and set a $97.00 price target on shares of VMware in a report on Wednesday, April 5th. BMO Capital Markets reiterated a “hold” rating and set a $98.00 price target on shares of VMware in a report on Wednesday, April 5th. Deutsche Bank AG lifted their price target on VMware from $85.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, April 11th. Berenberg Bank started coverage on VMware in a report on Tuesday, April 4th. They set a “hold” rating and a $94.00 price target for the company. Finally, BTIG Research started coverage on VMware in a report on Monday, April 17th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $87.00.
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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