Vmware (NYSE:VMW) was downgraded by equities researchers at Gabelli from a “buy” rating to a “hold” rating in a research note issued on Friday. The analysts noted that the move was a valuation call.
A number of other analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Vmware from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, September 4th. Citigroup reiterated a “buy” rating and issued a $124.00 price objective on shares of Vmware in a research note on Monday, August 28th. Barclays reiterated a “buy” rating on shares of Vmware in a research note on Friday, November 10th. Berenberg Bank reiterated a “hold” rating and issued a $94.00 price objective on shares of Vmware in a research note on Tuesday, August 29th. Finally, Jefferies Group lifted their price objective on shares of Vmware from $121.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Sixteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $121.74.
Vmware (NYSE:VMW) traded up $0.69 during midday trading on Friday, hitting $120.11. 4,418,600 shares of the stock were exchanged, compared to its average volume of 1,584,219. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10. The firm has a market cap of $52,165.21, a PE ratio of 35.87, a PEG ratio of 2.92 and a beta of 0.67. Vmware has a one year low of $76.81 and a one year high of $127.60.
Vmware declared that its Board of Directors has approved a stock repurchase plan on Monday, August 14th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the virtualization software provider to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In related news, Director Egon Durban sold 435,682 shares of Vmware stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total transaction of $47,624,399.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Sanjay Poonen sold 1,134 shares of Vmware stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $106.51, for a total transaction of $120,782.34. Following the sale, the chief operating officer now directly owns 192,774 shares in the company, valued at $20,532,358.74. The disclosure for this sale can be found here. Insiders sold a total of 446,563 shares of company stock valued at $48,896,887 over the last 90 days. Corporate insiders own 34.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Shelton Capital Management bought a new stake in Vmware during the 3rd quarter worth approximately $211,000. Public Employees Retirement System of Ohio grew its holdings in Vmware by 6.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 84,111 shares of the virtualization software provider’s stock worth $9,184,000 after acquiring an additional 4,952 shares during the last quarter. Independent Advisor Alliance bought a new stake in Vmware during the 3rd quarter worth approximately $389,000. Argent Capital Management LLC acquired a new position in shares of Vmware in the 3rd quarter worth approximately $26,853,000. Finally, California Public Employees Retirement System lifted its position in shares of Vmware by 4.9% in the 3rd quarter. California Public Employees Retirement System now owns 198,203 shares of the virtualization software provider’s stock worth $21,642,000 after purchasing an additional 9,303 shares during the period. 22.21% of the stock is currently owned by hedge funds and other institutional investors.
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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