Vmware, Inc. (VMW) Position Lessened by Renaissance Technologies LLC
Renaissance Technologies LLC lowered its position in shares of Vmware, Inc. (NYSE:VMW) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,111,400 shares of the virtualization software provider’s stock after selling 49,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.52% of Vmware worth $184,600,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of Vmware during the 1st quarter worth about $141,000. Penserra Capital Management LLC increased its position in shares of Vmware by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock worth $181,000 after purchasing an additional 240 shares in the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Vmware during the 2nd quarter worth about $191,000. BB&T Securities LLC acquired a new stake in shares of Vmware during the 1st quarter worth about $209,000. Finally, Eagle Global Advisors LLC acquired a new stake in shares of Vmware during the 2nd quarter worth about $203,000. Institutional investors and hedge funds own 21.82% of the company’s stock.
VMW has been the subject of several research reports. Barclays PLC upgraded shares of Vmware to a “hold” rating and set a $100.00 price objective for the company in a research report on Monday, June 5th. Oppenheimer Holdings, Inc. raised their price objective on shares of Vmware from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, September 5th. Maxim Group restated a “hold” rating and issued a $96.00 price objective on shares of Vmware in a research report on Friday, June 2nd. BidaskClub cut shares of Vmware from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Stifel Nicolaus upgraded shares of Vmware from a “hold” rating to a “buy” rating and raised their price objective for the company from $96.00 to $109.00 in a research report on Wednesday, June 21st. Fourteen analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $112.00.
Shares of Vmware, Inc. (NYSE:VMW) traded up 0.07% on Friday, reaching $109.15. 1,021,549 shares of the company’s stock were exchanged. The stock has a market cap of $44.64 billion, a P/E ratio of 39.29 and a beta of 0.74. Vmware, Inc. has a 52-week low of $72.05 and a 52-week high of $111.61. The company’s 50 day moving average price is $101.27 and its 200-day moving average price is $94.04.
Vmware (NYSE:VMW) last posted its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) 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 analysts’ expectations of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 EPS. Equities analysts forecast that Vmware, Inc. will post $5.07 EPS for the current fiscal year.
Vmware declared that its Board of Directors has initiated a share repurchase program 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 purchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, COO Sanjay Poonen sold 1,134 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $106.51, for a total value of $120,782.34. Following the transaction, the chief operating officer now directly owns 192,774 shares in the company, valued at approximately $20,532,358.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $107.82, for a total value of $646,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,342 shares of company stock worth $4,045,490 over the last 90 days. Company insiders own 0.52% of the company’s stock.
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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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