DNB Asset Management AS Acquires 6,859 Shares of VMware, Inc. (NYSE:VMW)

Posted by Defense World Staff on Sep 21st, 2023

DNB Asset Management AS raised its holdings in shares of VMware, Inc. (NYSE:VMW – Free Report) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 497,124 shares of the virtualization software provider’s stock after buying an additional 6,859 shares during the quarter. DNB Asset Management AS owned about 0.12% of VMware worth $71,432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in VMware by 7.7% in the 1st quarter. Handelsbanken Fonder AB now owns 34,030 shares of the virtualization software provider’s stock valued at $4,249,000 after purchasing an additional 2,429 shares during the period. Atria Wealth Solutions Inc. bought a new stake in shares of VMware in the 1st quarter worth approximately $204,000. Harbor Capital Advisors Inc. grew its holdings in shares of VMware by 491.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,116 shares of the virtualization software provider’s stock worth $514,000 after purchasing an additional 3,420 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of VMware during the first quarter valued at approximately $270,000. Finally, Calamos Advisors LLC raised its stake in shares of VMware by 56.7% in the first quarter. Calamos Advisors LLC now owns 298,500 shares of the virtualization software provider’s stock valued at $37,268,000 after purchasing an additional 108,000 shares in the last quarter. Institutional investors and hedge funds own 46.70% of the company’s stock.

VMware Price Performance

NYSE:VMW opened at $165.74 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 3.71. The firm has a market cap of $71.56 billion, a PE ratio of 50.07 and a beta of 0.72. VMware, Inc. has a 12 month low of $103.55 and a 12 month high of $170.19. The company’s 50-day moving average price is $161.45 and its two-hundred day moving average price is $140.44.

VMware (NYSE:VMW – Get Free Report) last announced its earnings results on Thursday, August 31st. The virtualization software provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.71 by $0.12. VMware had a return on equity of 113.34% and a net margin of 10.48%. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the previous year, the business earned $0.99 EPS. VMware’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that VMware, Inc. will post 4.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jean Pierre Brulard sold 3,600 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $141.51, for a total value of $509,436.00. Following the completion of the sale, the executive vice president now directly owns 103,905 shares in the company, valued at $14,703,596.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 40.30% of the company’s stock.

Analyst Ratings Changes

VMW has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of VMware from $125.00 to $134.00 in a research note on Friday, June 2nd. UBS Group increased their price target on shares of VMware from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Friday, September 1st. Mizuho upped their price objective on VMware from $158.00 to $165.00 in a research note on Friday, September 1st. StockNews.com upgraded VMware from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 7th. Finally, BMO Capital Markets boosted their price target on VMware from $140.00 to $160.00 and gave the company a “market perform” rating in a research note on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $160.25.

Check Out Our Latest Report on VMware

About VMware

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VMware, Inc provides software solutions in the areas of modern applications, cloud management and infrastructure, networking, security, and 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; and vSAN and VxRail, which offers holistic data storage and protection options to applications running on vSphere; as well as VMware Cloud Foundation, a cloud platform that combines its vSphere, vSAN, and NSX with VMware Aria Cloud Management into an integrated stack that delivers ready cloud infrastructure for private and public clouds.