The Manufacturers Life Insurance Company increased its holdings in shares of Vmware, Inc. (NYSE:VMW) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,253 shares of the virtualization software provider’s stock after buying an additional 901 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Vmware were worth $1,159,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its position in shares of Vmware by 75.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,169,757 shares of the virtualization software provider’s stock worth $102,272,000 after buying an additional 501,400 shares during the last quarter. Caxton Associates LP lifted its position in shares of Vmware by 22.7% during the 2nd quarter. Caxton Associates LP now owns 5,400 shares of the virtualization software provider’s stock worth $472,000 after buying an additional 1,000 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Vmware by 47.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 12,966 shares of the virtualization software provider’s stock worth $1,134,000 after buying an additional 4,166 shares during the last quarter. BlueCrest Capital Management Ltd raised its position in Vmware by 62.9% in the second quarter. BlueCrest Capital Management Ltd now owns 9,414 shares of the virtualization software provider’s stock valued at $823,000 after purchasing an additional 3,634 shares during the last quarter. Finally, Maverick Capital Ltd. raised its position in Vmware by 38.1% in the second quarter. Maverick Capital Ltd. now owns 43,480 shares of the virtualization software provider’s stock valued at $3,801,000 after purchasing an additional 11,990 shares during the last quarter. Institutional investors and hedge funds own 22.27% of the company’s stock.
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In related news, COO Sanjay Poonen sold 1,134 shares of Vmware stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $106.51, for a total transaction of $120,782.34. Following the transaction, the chief operating officer now owns 192,774 shares of the company’s stock, valued at $20,532,358.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Rajiv Ramaswami sold 9,747 shares of Vmware stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $118.16, for a total value of $1,151,705.52. The disclosure for this sale can be found here. Insiders sold 466,314 shares of company stock valued at $51,024,652 in the last three months. Insiders own 0.52% of the company’s stock.
Several research firms have commented on VMW. Barclays PLC reiterated a “buy” rating on shares of Vmware in a research report on Friday. Drexel Hamilton reiterated a “buy” rating and issued a $120.00 target price on shares of Vmware in a research report on Thursday, November 2nd. Zacks Investment Research downgraded Vmware from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. KeyCorp reiterated a “hold” rating on shares of Vmware in a research report on Tuesday, October 17th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $125.00 target price on shares of Vmware in a research report on Wednesday, October 4th. Fifteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $115.35.
Shares of Vmware, Inc. (NYSE:VMW) opened at $122.15 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.10. Vmware, Inc. has a one year low of $74.85 and a one year high of $122.21. The company has a market capitalization of $50,039.12, a P/E ratio of 34.41, a price-to-earnings-growth ratio of 2.80 and a beta of 0.67.
Vmware (NYSE:VMW) last announced its quarterly earnings data on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.04. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. equities research analysts expect that Vmware, Inc. will post 3.79 EPS for the current fiscal year.
Vmware declared that its Board of Directors has initiated a stock buyback plan on Monday, August 14th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the virtualization software provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).
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