Citigroup Inc. Reaffirms Neutral Rating for VMware Inc. (VMW)
VMware Inc. (NYSE:VMW)‘s stock had its “neutral” rating reissued by analysts at Citigroup Inc. in a note issued to investors on Monday.
Other equities analysts have also issued reports about the company. Deutsche Bank AG raised their price target on VMware from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Friday. RBC Capital Markets reaffirmed an “outperform” rating on shares of VMware in a report on Monday. Summit Redstone reaffirmed a “hold” rating and issued a $60.00 price target on shares of VMware in a report on Monday, July 11th. Vetr raised VMware from a “hold” rating to a “buy” rating and set a $63.40 price objective for the company in a research note on Monday, June 20th. Finally, MKM Partners lifted their price objective on VMware from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. VMware presently has an average rating of “Hold” and an average target price of $75.64.
Shares of VMware (NYSE:VMW) traded down 0.130% during midday trading on Monday, hitting $72.885. The stock had a trading volume of 234,107 shares. The firm’s 50-day moving average price is $73.48 and its 200-day moving average price is $64.40. The stock has a market cap of $30.93 billion, a price-to-earnings ratio of 29.365 and a beta of 1.24. VMware has a 1-year low of $43.25 and a 1-year high of $76.99.
In other news, VP S. Dawn Smith sold 977 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $73.59, for a total value of $71,897.43. Following the completion of the sale, the vice president now directly owns 54,653 shares in the company, valued at approximately $4,021,914.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider P. Kevan Krysler sold 6,988 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $72.40, for a total value of $505,931.20. Following the completion of the sale, the insider now owns 78,654 shares of the company’s stock, valued at $5,694,549.60. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Forte Capital LLC ADV raised its stake in VMware by 12.4% in the third quarter. Forte Capital LLC ADV now owns 12,275 shares of the virtualization software provider’s stock valued at $900,000 after buying an additional 1,350 shares during the period. Fox Run Management L.L.C. bought a new stake in VMware during the third quarter valued at approximately $491,000. Pensionfund Sabic bought a new stake in VMware during the third quarter valued at approximately $1,614,000. Pensionfund DSM Netherlands bought a new stake in VMware during the third quarter valued at approximately $3,447,000. Finally, Algert Global LLC raised its stake in VMware by 15.0% in the third quarter. Algert Global LLC now owns 14,931 shares of the virtualization software provider’s stock valued at $1,095,000 after buying an additional 1,944 shares during the period. Hedge funds and other institutional investors own 22.02% of the company’s stock.
VMware Company Profile
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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