AdvisorNet Financial Inc Reduces Position in VMware, Inc. (NYSE:VMW)

Posted by on Jul 23rd, 2023

AdvisorNet Financial Inc cut its position in shares of VMware, Inc. (NYSE:VMW – Free Report) by 36.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 384 shares of the virtualization software provider’s stock after selling 225 shares during the period. AdvisorNet Financial Inc’s holdings in VMware were worth $48,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in VMware during the 4th quarter valued at about $186,457,000. Arrowstreet Capital Limited Partnership lifted its holdings in VMware by 181.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,210,001 shares of the virtualization software provider’s stock valued at $251,653,000 after buying an additional 1,424,875 shares in the last quarter. Morgan Stanley lifted its holdings in VMware by 57.7% during the 4th quarter. Morgan Stanley now owns 2,655,951 shares of the virtualization software provider’s stock valued at $326,045,000 after buying an additional 971,516 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in VMware by 170.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 920,663 shares of the virtualization software provider’s stock valued at $104,836,000 after buying an additional 580,000 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in VMware by 1,111.2% during the 4th quarter. SG Americas Securities LLC now owns 563,812 shares of the virtualization software provider’s stock valued at $69,214,000 after buying an additional 517,263 shares in the last quarter. 46.00% of the stock is owned by hedge funds and other institutional investors.

VMware Stock Down 2.1 %

NYSE:VMW opened at $160.38 on Friday. The company has a market cap of $69.02 billion, a PE ratio of 52.93, a P/E/G ratio of 4.00 and a beta of 0.72. VMware, Inc. has a twelve month low of $103.55 and a twelve month high of $170.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 5.06. The company’s 50 day moving average is $139.98 and its two-hundred day moving average is $127.97.

VMware (NYSE:VMW – Get Free Report) last released its earnings results on Thursday, June 1st. The virtualization software provider reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.06). The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.31 billion. VMware had a return on equity of 162.41% and a net margin of 9.57%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. Analysts anticipate that VMware, Inc. will post 4.46 EPS for the current year.

Insider Activity

In other news, EVP Jean Pierre Brulard sold 3,600 shares of the company’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $141.51, for a total value of $509,436.00. Following the sale, the executive vice president now directly owns 103,905 shares of the company’s stock, valued at approximately $14,703,596.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 40.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on VMW shares. Mizuho lifted their price objective on shares of VMware from $135.00 to $138.00 in a report on Friday, June 2nd. StockNews.com upgraded shares of VMware from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 8th. UBS Group boosted their price target on shares of VMware from $151.00 to $161.00 in a report on Friday, June 2nd. BMO Capital Markets boosted their price target on shares of VMware from $139.00 to $140.00 in a report on Wednesday, June 7th. Finally, Piper Sandler boosted their price target on shares of VMware from $125.00 to $134.00 in a report on Friday, June 2nd.

VMware Company Profile

(Free Report)

VMware, Inc provides software solutions in the areas of modern applications, cloud management and infrastructure, networking, security, and digital workspaces in the United States and internationally. It offers VMware multi-cloud solutions, including VMware vSphere, a data center infrastructure that provides the fundamental compute layer; vSAN and VxRail, which offers holistic data storage and protection options to applications running on vSphere; and vRealize Cloud Management solutions that manages hybrid and multi-cloud environments running in virtual machines and containers, as well as VMware Cloud Foundation, a cloud platform that combines its vSphere, vSAN, and NSX with vRealize Cloud Management into an integrated stack and delivers enterprise-ready cloud infrastructure for private and public clouds.

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Institutional Ownership by Quarter for VMware (NYSE:VMW)

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