Cisco Systems Inc. lessened its stake in shares of VMware, Inc. (NYSE:VMW) by 61.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 740,000 shares of the virtualization software provider’s stock after selling 1,185,000 shares during the period. VMware comprises approximately 100.0% of Cisco Systems Inc.’s investment portfolio, making the stock its largest holding. Cisco Systems Inc. owned 0.18% of VMware worth $108,758,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd acquired a new stake in VMware during the 1st quarter worth about $106,000. Perigon Wealth Management LLC acquired a new stake in shares of VMware in the 1st quarter valued at about $121,000. Mckinley Capital Management LLC Delaware acquired a new stake in shares of VMware in the 1st quarter valued at about $127,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in shares of VMware in the 1st quarter valued at about $167,000. Finally, Dowling & Yahnke LLC acquired a new stake in shares of VMware in the 2nd quarter valued at about $214,000. Institutional investors and hedge funds own 20.11% of the company’s stock.
VMW has been the subject of several research reports. Credit Suisse Group raised their target price on VMware from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, May 21st. Oppenheimer raised their price target on shares of VMware from $135.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, May 22nd. Mizuho reaffirmed a “hold” rating and issued a $125.00 price target on shares of VMware in a research report on Thursday, May 24th. Robert W. Baird reissued a “buy” rating and set a $163.00 target price on shares of VMware in a research report on Friday, June 1st. Finally, BMO Capital Markets raised their price target on shares of VMware from $138.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, June 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the stock. VMware presently has a consensus rating of “Buy” and a consensus price target of $155.35.
In other news, EVP Maurizio Carli sold 3,779 shares of the stock in a transaction on Friday, September 7th. The shares were sold at an average price of $152.54, for a total value of $576,448.66. Following the completion of the sale, the executive vice president now directly owns 107,959 shares of the company’s stock, valued at $16,468,065.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider P. Kevan Krysler sold 13,485 shares of the firm’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $158.63, for a total transaction of $2,139,125.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,518 shares of company stock worth $19,067,627. Corporate insiders own 29.90% of the company’s stock.
Shares of NYSE:VMW opened at $154.60 on Friday. VMware, Inc. has a 12 month low of $107.12 and a 12 month high of $165.00. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.44. The stock has a market cap of $62.67 billion, a PE ratio of 40.05, a PEG ratio of 2.46 and a beta of 0.57.
VMware (NYSE:VMW) last announced its quarterly earnings results on Thursday, August 23rd. The virtualization software provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.05. VMware had a net margin of 18.77% and a return on equity of 21.06%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the company earned $1.19 earnings per share. VMware’s quarterly revenue was up 12.5% on a year-over-year basis. equities analysts anticipate that VMware, Inc. will post 4.73 earnings per share for the current year.
VMware Company Profile
VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses 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; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.
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