Investors Buy Shares of VMware (VMW) on Weakness

Investors bought shares of VMware, Inc. (NYSE:VMW) on weakness during trading on Thursday. $87.27 million flowed into the stock on the tick-up and $55.71 million flowed out of the stock on the tick-down, for a money net flow of $31.56 million into the stock. Of all equities tracked, VMware had the 4th highest net in-flow for the day. VMware traded down ($0.80) for the day and closed at $123.62

A number of brokerages recently weighed in on VMW. Gabelli cut shares of VMware from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. They noted that the move was a valuation call. Deutsche Bank reiterated a “buy” rating and set a $145.00 price target on shares of VMware in a research note on Friday, December 1st. Zacks Investment Research cut shares of VMware from a “hold” rating to a “strong sell” rating in a research note on Friday, February 2nd. CIBC increased their price target on shares of VMware from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, December 1st. Finally, Cowen restated a “buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of VMware in a research report on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. VMware has an average rating of “Buy” and a consensus price target of $130.00.

The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $49,835.92, a price-to-earnings ratio of 33.50, a PEG ratio of 2.57 and a beta of 0.81.

VMware (NYSE:VMW) last announced its quarterly earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.07. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. VMware had a net margin of 18.97% and a return on equity of 18.57%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. research analysts predict that VMware, Inc. will post 3.77 earnings per share for the current year.

In other news, COO Sanjay Poonen sold 2,764 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $118.50, for a total value of $327,534.00. Following the completion of the transaction, the chief operating officer now owns 189,391 shares in the company, valued at approximately $22,442,833.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Rangarajan (Raghu) Raghuram sold 23,381 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $120.40, for a total transaction of $2,815,072.40. The disclosure for this sale can be found here. Insiders sold a total of 38,726 shares of company stock valued at $4,774,927 in the last quarter. Insiders own 34.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of VMW. Global Trust Asset Management LLC acquired a new stake in VMware in the 4th quarter valued at about $138,000. Bronfman E.L. Rothschild L.P. grew its stake in VMware by 1,643.8% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock valued at $139,000 after acquiring an additional 1,200 shares during the last quarter. Enterprise Financial Services Corp grew its stake in VMware by 3,975.6% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock valued at $182,000 after acquiring an additional 1,630 shares during the last quarter. Bank of Hawaii acquired a new stake in VMware in the 4th quarter valued at about $202,000. Finally, Cadence Capital Management LLC acquired a new stake in VMware in the 3rd quarter valued at about $204,000. 21.86% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This news story was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://stocknewstimes.com/2018/02/17/investors-buy-shares-of-vmware-vmw-on-weakness.html.

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).

Receive News & Ratings for VMware Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VMware and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply