Pictet Asset Management Ltd. lifted its stake in shares of Vmware, Inc. (NYSE:VMW) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,500 shares of the virtualization software provider’s stock after acquiring an additional 700 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Vmware were worth $2,784,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in VMW. Penserra Capital Management LLC boosted its stake in shares of Vmware by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock worth $181,000 after acquiring an additional 240 shares in the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of Vmware during the 2nd quarter worth about $191,000. Eagle Global Advisors LLC bought a new stake in shares of Vmware during the 2nd quarter worth about $203,000. Sapphire Star Partners LP bought a new stake in shares of Vmware during the 2nd quarter worth about $210,000. Finally, Raymond James Trust N.A. bought a new stake in shares of Vmware during the 3rd quarter worth about $214,000. Institutional investors own 22.27% of the company’s stock.
In other Vmware news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $107.82, for a total value of $646,920.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Rajiv Ramaswami sold 9,747 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $118.16, for a total value of $1,151,705.52. The disclosure for this sale can be found here. Insiders sold a total of 466,314 shares of company stock worth $51,024,652 over the last quarter. Corporate insiders own 0.52% of the company’s stock.
Shares of Vmware, Inc. (VMW) opened at $121.84 on Tuesday. The company has a market capitalization of $50,039.12, a P/E ratio of 34.41, a P/E/G ratio of 2.80 and a beta of 0.67. Vmware, Inc. has a 12-month low of $74.85 and a 12-month high of $122.44. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10.
Vmware (NYSE:VMW) last released its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. Vmware’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. analysts anticipate that Vmware, Inc. will post 3.79 earnings per share for the current year.
Vmware declared that its Board of Directors has approved a share buyback plan on Monday, August 14th that permits the company to repurchase $1.00 billion in outstanding 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 generally a sign that the company’s board believes its shares are undervalued.
Several equities analysts recently weighed in on VMW shares. Zacks Investment Research raised Vmware from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, September 4th. Citigroup Inc. reissued a “buy” rating and set a $124.00 price objective on shares of Vmware in a research report on Monday, August 28th. Berenberg Bank reissued a “hold” rating and set a $94.00 price objective on shares of Vmware in a research report on Tuesday, August 29th. Jefferies Group LLC boosted their price objective on Vmware from $121.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Credit Suisse Group started coverage on Vmware in a research report on Tuesday, September 5th. They set an “outperform” rating and a $130.00 price objective for the company. Fifteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $115.35.
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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