Egon Durban Sells 435,682 Shares of Vmware, Inc. (VMW) Stock
Vmware, Inc. (NYSE:VMW) Director Egon Durban sold 435,682 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total value of $47,624,399.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Vmware, Inc. (NYSE VMW) traded down $1.20 during trading on Friday, hitting $117.92. 1,054,765 shares of the stock traded hands, compared to its average volume of 1,785,937. The company has a market capitalization of $48,707.74, a price-to-earnings ratio of 33.49 and a beta of 0.67.
Vmware (NYSE:VMW) last released its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.04. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Vmware had a net margin of 17.81% and a return on equity of 18.06%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. sell-side analysts predict that Vmware, Inc. will post 3.79 EPS for the current fiscal year.
Vmware announced that its board has authorized a share buyback plan on Monday, August 14th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. grew its holdings in Vmware by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 5,299 shares of the virtualization software provider’s stock valued at $463,000 after purchasing an additional 14 shares in the last quarter. Federated Investors Inc. PA grew its holdings in Vmware by 0.4% during the 2nd quarter. Federated Investors Inc. PA now owns 15,323 shares of the virtualization software provider’s stock valued at $1,339,000 after purchasing an additional 66 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Vmware by 2.4% during the 2nd quarter. Capstone Asset Management Co. now owns 3,829 shares of the virtualization software provider’s stock valued at $335,000 after acquiring an additional 90 shares during the last quarter. Laurion Capital Management LP boosted its stake in Vmware by 2.8% during the 2nd quarter. Laurion Capital Management LP now owns 3,700 shares of the virtualization software provider’s stock valued at $323,000 after acquiring an additional 100 shares during the last quarter. Finally, CFO4Life Group LLC lifted its position in shares of Vmware by 2.2% in the 2nd quarter. CFO4Life Group LLC now owns 5,644 shares of the virtualization software provider’s stock worth $493,000 after buying an additional 121 shares during the last quarter. 22.28% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on VMW. Berenberg Bank reissued a “hold” rating and issued a $94.00 target price on shares of Vmware in a report on Tuesday, August 29th. Zacks Investment Research upgraded Vmware from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a research report on Wednesday, October 25th. Stifel Nicolaus restated a “buy” rating and issued a $118.00 price objective (up from $109.00) on shares of Vmware in a research report on Friday, August 25th. BMO Capital Markets lifted their target price on Vmware from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Tuesday, August 15th. Finally, MKM Partners reissued a “buy” rating and set a $120.00 price objective (up from $110.00) on shares of Vmware in a research note on Monday, August 28th. Fifteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $113.88.
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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