Principal Financial Group Inc. raised its position in Vmware, Inc. (NYSE:VMW) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,673 shares of the virtualization software provider’s stock after buying an additional 9,726 shares during the quarter. Principal Financial Group Inc. owned about 0.07% of Vmware worth $29,554,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Sapphire Star Partners LP raised its stake in shares of Vmware by 20.0% during the 3rd quarter. Sapphire Star Partners LP now owns 2,880 shares of the virtualization software provider’s stock valued at $314,000 after purchasing an additional 480 shares during the period. Summit Global Investments bought a new stake in shares of Vmware during the 2nd quarter valued at $631,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Vmware during the 2nd quarter valued at $1,121,000. BNP Paribas Arbitrage SA raised its stake in shares of Vmware by 64.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 35,641 shares of the virtualization software provider’s stock valued at $3,116,000 after purchasing an additional 13,946 shares during the period. Finally, AXA raised its stake in shares of Vmware by 102.9% during the 2nd quarter. AXA now owns 120,100 shares of the virtualization software provider’s stock valued at $10,501,000 after purchasing an additional 60,900 shares during the period. Hedge funds and other institutional investors own 21.68% of the company’s stock.
A number of analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on Vmware from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Tuesday, August 15th. Citigroup Inc. boosted their price objective on Vmware from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Mizuho boosted their price objective on Vmware from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, August 14th. Robert W. Baird set a $115.00 price objective on Vmware and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, Morgan Stanley restated an “overweight” rating and issued a $123.00 target price (up from $115.00) on shares of Vmware in a research note on Wednesday, September 27th. Fifteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $116.00.
Vmware (NYSE:VMW) last released its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $1.90 billion during 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 quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 EPS. equities research analysts forecast that Vmware, Inc. will post 3.79 earnings per share for the current fiscal year.
Vmware declared that its Board of Directors has initiated a stock repurchase program on Monday, August 14th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the virtualization software provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
In other Vmware news, COO Rajiv Ramaswami sold 9,747 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $118.16, for a total transaction of $1,151,705.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Egon Durban sold 435,682 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total value of $47,624,399.42. The disclosure for this sale can be found here. Insiders have sold a total of 466,314 shares of company stock valued at $51,024,652 in the last ninety days. 0.52% of the stock is currently owned by corporate insiders.
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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