VMware, Inc. (NYSE:VMW) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 6,869,100 shares, a decrease of 12.8% from the July 31st total of 7,874,000 shares. Approximately 8.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 4.5 days.
In other news, VP Amy Fliegelman Olli sold 2,753 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $150.00, for a total transaction of $412,950.00. Following the completion of the sale, the vice president now owns 38,728 shares of the company’s stock, valued at $5,809,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Zane Rowe sold 20,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $147.54, for a total transaction of $2,950,800.00. Following the sale, the chief financial officer now directly owns 138,565 shares of the company’s stock, valued at approximately $20,443,880.10. The disclosure for this sale can be found here. Insiders have sold 69,120 shares of company stock valued at $10,678,437 in the last ninety days. Insiders own 28.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of VMW. Clarus Wealth Advisors acquired a new position in VMware in the second quarter valued at about $29,000. Coastal Capital Group Inc. acquired a new position in VMware in the second quarter valued at about $29,000. TRUE Private Wealth Advisors acquired a new position in VMware in the second quarter valued at about $31,000. CSat Investment Advisory L.P. acquired a new position in VMware in the second quarter valued at about $34,000. Finally, Pacific Center for Financial Services lifted its position in VMware by 94.3% in the second quarter. Pacific Center for Financial Services now owns 206 shares of the virtualization software provider’s stock valued at $34,000 after buying an additional 100 shares during the last quarter. 17.49% of the stock is currently owned by institutional investors.
VMW has been the subject of a number of research reports. Citigroup dropped their target price on shares of VMware from $212.00 to $183.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Goldman Sachs Group raised shares of VMware from a “sell” rating to a “neutral” rating and set a $152.00 target price for the company in a report on Thursday, September 5th. TheStreet raised shares of VMware from a “d+” rating to a “b-” rating in a report on Friday, August 23rd. Maxim Group reaffirmed a “hold” rating on shares of VMware in a report on Friday, August 23rd. Finally, Barclays dropped their target price on shares of VMware from $190.00 to $178.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. VMware has a consensus rating of “Hold” and an average target price of $175.09.
Shares of VMW traded down $0.60 during mid-day trading on Thursday, reaching $153.83. The stock had a trading volume of 109,562 shares, compared to its average volume of 1,397,950. The company has a debt-to-equity ratio of 7.57, a current ratio of 0.97 and a quick ratio of 0.97. VMware has a 52-week low of $128.69 and a 52-week high of $206.80. The business’s fifty day moving average is $152.93 and its 200 day moving average is $175.07. The firm has a market cap of $63.19 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 2.30 and a beta of 0.89.
VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, August 22nd. The virtualization software provider reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.45. VMware had a net margin of 66.00% and a return on equity of 51.08%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. VMware’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that VMware will post 4.86 EPS for the current fiscal year.
VMware Company Profile
VMware, Inc provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; and cloud management products for businesses with automated operation, programmable provisioning, and application monitoring solutions.
Further Reading: Initial Coin Offering (ICO)
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