Wells Fargo & Company MN Decreases Stock Position in VMware, Inc. (NYSE:VMW)

Posted by Defense World Staff on Jun 12th, 2023

Wells Fargo & Company MN cut its holdings in VMware, Inc. (NYSE:VMW – Get Rating) by 28.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,562 shares of the virtualization software provider’s stock after selling 93,890 shares during the period. Wells Fargo & Company MN owned about 0.06% of VMware worth $29,163,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in VMware by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 14,338,363 shares of the virtualization software provider’s stock valued at $1,526,461,000 after buying an additional 1,102,577 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of VMware by 5.7% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 6,152,810 shares of the virtualization software provider’s stock worth $655,028,000 after purchasing an additional 333,245 shares during the last quarter. State Street Corp grew its holdings in shares of VMware by 2.7% during the first quarter. State Street Corp now owns 5,372,625 shares of the virtualization software provider’s stock worth $611,781,000 after buying an additional 143,362 shares in the last quarter. Wellington Management Group LLP raised its position in shares of VMware by 5.8% in the first quarter. Wellington Management Group LLP now owns 3,408,400 shares of the virtualization software provider’s stock valued at $388,115,000 after buying an additional 186,229 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of VMware by 28.5% during the third quarter. Marshall Wace LLP now owns 2,716,536 shares of the virtualization software provider’s stock valued at $289,205,000 after buying an additional 602,026 shares during the period. Hedge funds and other institutional investors own 45.85% of the company’s stock.

VMware Trading Up 2.9 %

VMW stock traded up $3.88 on Monday, hitting $139.26. 888,107 shares of the company were exchanged, compared to its average volume of 1,304,543. The stock has a market capitalization of $59.67 billion, a price-to-earnings ratio of 44.68, a price-to-earnings-growth ratio of 3.37 and a beta of 0.72. The company has a debt-to-equity ratio of 5.06, a current ratio of 0.82 and a quick ratio of 0.82. The business’s fifty day moving average is $126.67 and its two-hundred day moving average is $122.61. VMware, Inc. has a twelve month low of $103.55 and a twelve month high of $139.85.

VMware (NYSE:VMW – Get Rating) last announced its quarterly earnings results on Thursday, June 1st. The virtualization software provider reported $1.49 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.06). The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.31 billion. VMware had a return on equity of 162.41% and a net margin of 9.57%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. As a group, research analysts forecast that VMware, Inc. will post 4.46 earnings per share for the current year.

Insider Transactions at VMware

In other news, CFO Zane Rowe sold 35,715 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $124.53, for a total value of $4,447,588.95. Following the completion of the sale, the chief financial officer now owns 174,162 shares of the company’s stock, valued at $21,688,393.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 40.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BMO Capital Markets lifted their target price on shares of VMware from $139.00 to $140.00 in a research note on Wednesday, June 7th. Mizuho upped their target price on VMware from $135.00 to $138.00 in a research note on Friday, June 2nd. 1-800-FLOWERS.COM reiterated a “maintains” rating on shares of VMware in a research note on Thursday, April 27th. UBS Group upped their target price on VMware from $151.00 to $161.00 in a research note on Friday, June 2nd. Finally, Piper Sandler upped their target price on VMware from $125.00 to $134.00 in a research note on Friday, June 2nd. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $143.25.

VMware Company Profile

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VMware, Inc engages in the provision of cloud infrastructure and business mobility. Its products include Software-Defined Data Center, Hybrid Cloud Computing, and End-User Computing. It supports modernizing data centers, integrating public clouds, empowering digital workspaces and transforming security.