Strs Ohio reduced its stake in shares of VMware Inc. (NYSE:VMW) by 4.2% during the second quarter, Holdings Channel reports. The institutional investor owned 47,931 shares of the virtualization software provider’s stock after selling 2,086 shares during the period. Strs Ohio’s holdings in VMware were worth $2,742,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of VMW. Bank of Montreal Can purchased a new position in shares of VMware during the second quarter valued at about $596,000. Shell Asset Management Co. boosted its position in shares of VMware by 25.0% in the second quarter. Shell Asset Management Co. now owns 29,933 shares of the virtualization software provider’s stock valued at $1,713,000 after buying an additional 5,992 shares during the period. Meritage Portfolio Management purchased a new position in shares of VMware during the second quarter valued at about $3,960,000. Acadian Asset Management LLC purchased a new position in shares of VMware during the second quarter valued at about $507,000. Finally, Denali Advisors LLC purchased a new position in shares of VMware during the second quarter valued at about $607,000. Hedge funds and other institutional investors own 22.06% of the company’s stock.
VMware Inc. (NYSE:VMW) traded down 0.39% on Friday, reaching $73.99. 1,866,988 shares of the company traded hands. The stock has a 50-day moving average of $73.59 and a 200 day moving average of $63.73. VMware Inc. has a 52-week low of $43.25 and a 52-week high of $76.99. The company has a market capitalization of $31.40 billion, a PE ratio of 29.81 and a beta of 1.24.
VMware (NYSE:VMW) last released its quarterly earnings results on Monday, July 18th. The virtualization software provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.02. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.68 billion. VMware had a net margin of 15.47% and a return on equity of 15.66%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. On average, equities analysts forecast that VMware Inc. will post $4.29 EPS for the current year.
Several equities analysts have recently issued reports on VMW shares. Mizuho reiterated a “neutral” rating and set a $66.00 price target (up from $61.00) on shares of VMware in a research report on Thursday, September 1st. Robert W. Baird reiterated a “neutral” rating and set a $77.00 price target (up from $60.00) on shares of VMware in a research report on Wednesday, July 20th. Cowen and Company reiterated a “market perform” rating on shares of VMware in a research report on Wednesday, July 20th. Drexel Hamilton reiterated a “buy” rating and set a $85.00 price target (up from $77.00) on shares of VMware in a research report on Monday, July 18th. Finally, BMO Capital Markets lifted their price target on VMware from $55.00 to $70.00 and gave the company a “market perform” rating in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, twenty-eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $77.49.
In other VMware news, VP S. Dawn Smith sold 977 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $73.59, for a total value of $71,897.43. Following the transaction, the vice president now directly owns 54,653 shares of the company’s stock, valued at approximately $4,021,914.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider P. Kevan Krysler sold 6,988 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $72.40, for a total transaction of $505,931.20. Following the completion of the transaction, the insider now directly owns 78,654 shares in the company, valued at $5,694,549.60. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.
VMware, Inc is a provider of virtualization infrastructure solutions and cloud infrastructure solutions. The Company develops and markets its product and service offerings within three product groups, which include software-defined data center (SDDC), hybrid cloud computing and end-user computing (EUC).
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