Pinebridge Investments L.P. Boosts Stake in Vmware, Inc. (VMW)

Pinebridge Investments L.P. lifted its stake in shares of Vmware, Inc. (NYSE:VMW) by 175.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 60,230 shares of the virtualization software provider’s stock after buying an additional 38,385 shares during the quarter. Pinebridge Investments L.P.’s holdings in Vmware were worth $6,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Investec Asset Management LTD lifted its stake in shares of Vmware by 0.5% during the 3rd quarter. Investec Asset Management LTD now owns 2,682,460 shares of the virtualization software provider’s stock worth $292,898,000 after buying an additional 13,318 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Vmware by 25.7% during the 2nd quarter. Voya Investment Management LLC now owns 2,633,434 shares of the virtualization software provider’s stock worth $230,241,000 after buying an additional 538,393 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Vmware by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,379,344 shares of the virtualization software provider’s stock worth $259,824,000 after buying an additional 59,923 shares during the last quarter. APG Asset Management N.V. lifted its stake in shares of Vmware by 302.3% during the 3rd quarter. APG Asset Management N.V. now owns 2,044,921 shares of the virtualization software provider’s stock worth $223,285,000 after buying an additional 1,536,600 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Vmware by 6.3% during the 3rd quarter. Wells Fargo & Company MN now owns 1,792,367 shares of the virtualization software provider’s stock worth $195,708,000 after buying an additional 105,543 shares during the last quarter. Institutional investors own 22.21% of the company’s stock.

Several analysts have weighed in on VMW shares. Berenberg Bank reiterated a “hold” rating and issued a $94.00 price objective on shares of Vmware in a research note on Tuesday, August 29th. Zacks Investment Research upgraded shares of Vmware from a “hold” rating to a “buy” rating and set a $134.00 price objective for the company in a research note on Wednesday, October 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $118.00 price objective (up previously from $109.00) on shares of Vmware in a research note on Friday, August 25th. BMO Capital Markets lifted their price objective on shares of Vmware from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 15th. Finally, MKM Partners reiterated a “buy” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Vmware in a research note on Monday, August 28th. Fifteen investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Vmware currently has a consensus rating of “Buy” and an average price target of $124.50.

Vmware, Inc. (NYSE VMW) traded down $9.35 during mid-day trading on Tuesday, reaching $115.09. 4,958,400 shares of the company’s stock traded hands, compared to its average volume of 1,616,607. 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, Inc. has a 52-week low of $77.94 and a 52-week high of $127.60. The company has a market cap of $50,977.22, a price-to-earnings ratio of 33.72, a P/E/G ratio of 2.85 and a beta of 0.67.

Vmware (NYSE:VMW) last released its earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. Vmware had a net margin of 18.97% and a return on equity of 18.58%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm earned $1.14 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. equities research analysts forecast that Vmware, Inc. will post 3.79 EPS for the current fiscal year.

Vmware announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 14th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In other Vmware news, COO Sanjay Poonen sold 1,134 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $106.51, for a total value of $120,782.34. Following the transaction, the chief operating officer now directly owns 192,774 shares of the company’s stock, valued at approximately $20,532,358.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Rajiv Ramaswami sold 9,747 shares of Vmware stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $118.16, for a total transaction of $1,151,705.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 446,563 shares of company stock worth $48,896,887. Insiders own 34.40% of the company’s stock.

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Vmware 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).

Institutional Ownership by Quarter for Vmware (NYSE:VMW)

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