Wedbush initiated coverage on shares of VMware (NYSE:VMW) in a research report report published on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $185.00 price objective on the virtualization software provider’s stock.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of VMware from a buy rating to a hold rating in a research note on Saturday, July 7th. Wells Fargo & Co raised their target price on shares of VMware from $135.00 to $155.00 and gave the company a market perform rating in a research note on Tuesday, July 10th. BMO Capital Markets increased their price target on shares of VMware from $155.00 to $175.00 and gave the company an outperform rating in a research report on Tuesday, July 3rd. Maxim Group increased their price target on shares of VMware from $142.00 to $150.00 and gave the company a hold rating in a research report on Friday, August 24th. Finally, Stifel Nicolaus increased their price target on shares of VMware from $122.00 to $142.00 and gave the company a hold rating in a research report on Friday, August 24th. One analyst has rated the stock with a sell rating, ten have given 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 a consensus price target of $158.04.
VMW traded down $4.87 on Thursday, reaching $140.74. The company had a trading volume of 99,252 shares, compared to its average volume of 1,276,672. The company has a market capitalization of $60.56 billion, a P/E ratio of 37.61, a P/E/G ratio of 2.36 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.01 and a quick ratio of 3.01. VMware has a 52-week low of $108.46 and a 52-week high of $165.00.
In other news, VP Amy Fliegelman Olli sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $152.77, for a total value of $229,155.00. Following the transaction, the vice president now owns 30,930 shares in the company, valued at $4,725,176.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $152.13, for a total transaction of $3,803,250.00. Following the completion of the transaction, the chief executive officer now owns 411,923 shares in the company, valued at approximately $62,665,845.99. The disclosure for this sale can be found here. Insiders sold 41,263 shares of company stock worth $6,327,817 in the last 90 days. Company insiders own 29.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Jafra Capital Management LP bought a new stake in VMware in the second quarter valued at $2,205,000. Pinebridge Investments L.P. boosted its holdings in VMware by 12.3% in the second quarter. Pinebridge Investments L.P. now owns 137,860 shares of the virtualization software provider’s stock valued at $20,261,000 after acquiring an additional 15,107 shares in the last quarter. Bank of Hawaii purchased a new position in VMware during the second quarter valued at $251,000. Marietta Investment Partners LLC purchased a new position in VMware during the second quarter valued at $590,000. Finally, Goodwin Daniel L purchased a new position in VMware during the second quarter valued at $220,000. Hedge funds and other institutional investors own 20.02% of the company’s stock.
VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.
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