VMware (NYSE:VMW) was upgraded by research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has a $142.00 price objective on the virtualization software provider’s stock. KeyCorp’s target price would suggest a potential upside of 10.17% from the company’s current price.
Several other analysts also recently issued reports on VMW. Deutsche Bank raised shares of VMware from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $120.00 in a research note on Tuesday, August 22nd. Royal Bank of Canada boosted their target price on shares of VMware from $113.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, August 23rd. Robert W. Baird reissued a “buy” rating and set a $120.00 target price (up from $115.00) on shares of VMware in a research note on Friday, August 25th. Bank of America raised shares of VMware from a “neutral” rating to a “buy” rating and boosted their target price for the company from $108.00 to $120.00 in a research note on Friday, August 25th. Finally, Maxim Group reissued a “hold” rating and set a $105.00 target price on shares of VMware in a research note on Friday, August 25th. Fourteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $125.20.
VMware (NYSE VMW) traded up $5.09 during midday trading on Monday, hitting $128.89. The company’s stock had a trading volume of 2,985,164 shares, compared to its average volume of 1,633,464. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.86 and a quick ratio of 1.98. VMware has a 52 week low of $77.94 and a 52 week high of $129.48. The company has a market capitalization of $49,908.48, a PE ratio of 33.55, a P/E/G ratio of 2.85 and a beta of 0.67.
In related news, COO Rangarajan (Raghu) Raghuram sold 23,381 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $120.40, for a total value of $2,815,072.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Egon Durban sold 435,682 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total transaction of $47,624,399.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 471,574 shares of company stock worth $51,918,711. 34.40% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. boosted its holdings in VMware by 1,643.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock worth $139,000 after purchasing an additional 1,200 shares in the last quarter. Enterprise Financial Services Corp boosted its holdings in VMware by 3,975.6% in the third quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock worth $182,000 after purchasing an additional 1,630 shares in the last quarter. Cadence Capital Management LLC bought a new stake in VMware in the third quarter worth $204,000. Argent Trust Co bought a new stake in VMware in the third quarter worth $205,000. Finally, Oppenheimer & Co. Inc. bought a new stake in VMware in the third quarter worth $210,000. Hedge funds and other institutional investors own 22.21% of the company’s stock.
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About VMware
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).
