Sumitomo Life Insurance Co. Has $2.63 Million Position in VMware, Inc. (VMW)

Sumitomo Life Insurance Co. lessened its holdings in VMware, Inc. (NYSE:VMW) by 12.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,591 shares of the virtualization software provider’s stock after selling 2,015 shares during the period. Sumitomo Life Insurance Co.’s holdings in VMware were worth $2,634,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VMW. Norges Bank purchased a new stake in shares of VMware during the 4th quarter worth approximately $84,157,000. MARSHALL WACE ASIA Ltd bought a new position in VMware in the 3rd quarter valued at $40,688,000. Castle Hook Partners LP bought a new position in VMware in the 4th quarter valued at $30,265,000. Ackerman Capital Advisors LLC boosted its holdings in VMware by 10,184.8% in the 4th quarter. Ackerman Capital Advisors LLC now owns 205,695 shares of the virtualization software provider’s stock valued at $1,500,000 after purchasing an additional 203,695 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in VMware by 183.1% in the 4th quarter. Hsbc Holdings PLC now owns 196,028 shares of the virtualization software provider’s stock valued at $26,881,000 after purchasing an additional 126,788 shares during the period. Institutional investors own 17.92% of the company’s stock.

In other VMware news, insider P. Kevan Krysler sold 11,993 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $184.04, for a total value of $2,207,191.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Rangarajan (Raghu) Raghuram sold 36,311 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $170.24, for a total transaction of $6,181,584.64. Following the completion of the transaction, the chief operating officer now owns 304,104 shares in the company, valued at approximately $51,770,664.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 248,577 shares of company stock worth $44,873,977. 29.90% of the stock is owned by corporate insiders.

VMW has been the subject of several analyst reports. KeyCorp cut their price target on shares of VMware from $199.00 to $172.00 and set an “overweight” rating for the company in a report on Friday, January 4th. Citigroup initiated coverage on shares of VMware in a report on Tuesday, January 8th. They issued a “buy” rating and a $166.00 price target for the company. Oppenheimer cut their price target on shares of VMware from $180.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, January 8th. Barclays initiated coverage on shares of VMware in a report on Wednesday, January 9th. They issued an “overweight” rating and a $168.00 price target for the company. Finally, BMO Capital Markets initiated coverage on shares of VMware in a report on Thursday, January 10th. They issued an “outperform” rating and a $170.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $180.48.

Shares of NYSE:VMW opened at $189.84 on Wednesday. The firm has a market capitalization of $77.92 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 3.03 and a beta of 0.77. VMware, Inc. has a 52 week low of $129.17 and a 52 week high of $194.24. The company has a debt-to-equity ratio of 7.70, a quick ratio of 0.99 and a current ratio of 0.99.

VMware (NYSE:VMW) last issued its earnings results on Thursday, February 28th. The virtualization software provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.10. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.50 billion. VMware had a net margin of 26.99% and a return on equity of 25.50%. During the same quarter last year, the company earned $1.68 EPS. As a group, equities analysts forecast that VMware, Inc. will post 4.94 earnings per share for the current fiscal year.

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VMware 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: Quiet Period

Institutional Ownership by Quarter for VMware (NYSE:VMW)

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