CI Investments Inc. Continues to Hold Stake in Vmware, Inc. (VMW)
CI Investments Inc. continued to hold its position in shares of Vmware, Inc. (NYSE:VMW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,300 shares of the virtualization software provider’s stock at the close of the 2nd quarter. CI Investments Inc.’s holdings in Vmware were worth $2,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently bought and sold shares of VMW. Advantage Investment Management LLC acquired a new stake in shares of Vmware during the 1st quarter valued at approximately $139,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Vmware during the 1st quarter valued at approximately $141,000. Penserra Capital Management LLC raised its position in shares of Vmware by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,840 shares of the virtualization software provider’s stock valued at $169,000 after acquiring an additional 160 shares in the last quarter. Eagle Global Advisors LLC acquired a new stake in shares of Vmware during the 2nd quarter valued at approximately $203,000. Finally, BB&T Securities LLC acquired a new stake in shares of Vmware during the 1st quarter valued at approximately $209,000. 21.81% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on the company. KeyCorp restated a “sector weight” rating on shares of Vmware in a research note on Friday, September 1st. Zacks Investment Research upgraded Vmware from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Monday, September 4th. Credit Suisse Group assumed coverage on Vmware in a research note on Tuesday. They set an “outperform” rating and a $130.00 price objective for the company. Oppenheimer Holdings, Inc. upped their price objective on Vmware from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, William Blair restated an “outperform” rating on shares of Vmware in a research note on Tuesday. Fourteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $109.88.
Vmware, Inc. (VMW) traded down 0.38% during mid-day trading on Friday, reaching $106.10. The company’s stock had a trading volume of 1,582,479 shares. Vmware, Inc. has a 52-week low of $72.05 and a 52-week high of $108.33. The company has a 50 day moving average of $97.78 and a 200-day moving average of $93.04. The stock has a market cap of $43.46 billion, a PE ratio of 38.19 and a beta of 0.74.
Vmware (NYSE:VMW) last announced its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Vmware had a return on equity of 18.34% and a net margin of 17.81%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 earnings per share. Equities analysts forecast that Vmware, Inc. will post $5.06 earnings per share for the current year.
Vmware declared that its board has approved a stock repurchase plan on Monday, August 14th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the virtualization software provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the transaction, the chief operating officer now owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider P. Kevan Krysler sold 13,751 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $107.69, for a total value of $1,480,845.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,208 shares of company stock worth $3,924,708. Company insiders own 0.52% of the company’s stock.
Vmware Company Profile
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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