Victory Capital Management Inc. raised its stake in shares of VMware, Inc. (NYSE:VMW – Free Report) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 87,411 shares of the virtualization software provider’s stock after purchasing an additional 5,090 shares during the period. Victory Capital Management Inc.’s holdings in VMware were worth $12,560,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ronald Blue Trust Inc. lifted its stake in shares of VMware by 75.4% in the first quarter. Ronald Blue Trust Inc. now owns 200 shares of the virtualization software provider’s stock worth $25,000 after acquiring an additional 86 shares during the period. Trivant Custom Portfolio Group LLC acquired a new position in shares of VMware in the 1st quarter worth approximately $25,000. Toth Financial Advisory Corp boosted its stake in shares of VMware by 101.0% in the 1st quarter. Toth Financial Advisory Corp now owns 205 shares of the virtualization software provider’s stock valued at $26,000 after purchasing an additional 103 shares during the last quarter. WealthPLAN Partners LLC acquired a new stake in shares of VMware during the first quarter worth $26,000. Finally, Zions Bancorporation N.A. raised its stake in VMware by 140.2% during the first quarter. Zions Bancorporation N.A. now owns 233 shares of the virtualization software provider’s stock worth $27,000 after buying an additional 136 shares during the last quarter. 46.70% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at VMware
In related news, EVP Jean Pierre Brulard sold 5,779 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $178.29, for a total transaction of $1,030,337.91. Following the transaction, the executive vice president now directly owns 71,053 shares in the company, valued at $12,668,039.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 40.30% of the company’s stock.
VMware Price Performance
VMware (NYSE:VMW – Get Free Report) last released its quarterly earnings data on Thursday, August 31st. The virtualization software provider reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.12. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.45 billion. VMware had a net margin of 10.48% and a return on equity of 113.34%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.99 earnings per share. Sell-side analysts anticipate that VMware, Inc. will post 4.92 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Monness Crespi & Hardt downgraded VMware from a “buy” rating to a “neutral” rating in a report on Monday, August 28th. BMO Capital Markets raised their target price on VMware from $140.00 to $160.00 and gave the stock a “market perform” rating in a research note on Friday, September 1st. StockNews.com assumed coverage on VMware in a research note on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Mizuho raised their price objective on shares of VMware from $158.00 to $165.00 in a research report on Friday, September 1st. Finally, UBS Group boosted their target price on shares of VMware from $180.00 to $182.00 and gave the company a “neutral” rating in a research report on Friday, September 1st. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $160.25.
Check Out Our Latest Analysis on VMW
About VMware
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.
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