Verition Fund Management LLC Buys 11,571 Shares of Vmware, Inc. (VMW)
Verition Fund Management LLC lifted its stake in Vmware, Inc. (NYSE:VMW) by 98.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,371 shares of the virtualization software provider’s stock after buying an additional 11,571 shares during the quarter. Verition Fund Management LLC’s holdings in Vmware were worth $2,043,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of VMW. Oppenheimer Asset Management Inc. purchased a new stake in shares of Vmware in the first quarter worth about $141,000. Penserra Capital Management LLC raised its holdings in Vmware by 13.0% in 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 during the period. BlueMountain Capital Management LLC acquired a new position in Vmware in the 2nd quarter worth about $191,000. Eagle Global Advisors LLC acquired a new position in Vmware in the 2nd quarter worth about $203,000. Finally, BB&T Securities LLC acquired a new position in Vmware in the 1st quarter worth about $209,000. Hedge funds and other institutional investors own 21.82% of the company’s stock.
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Shares of Vmware, Inc. (NYSE:VMW) traded up 0.63% during mid-day trading on Friday, hitting $113.87. The stock had a trading volume of 433,894 shares. The company’s 50 day moving average price is $108.73 and its 200 day moving average price is $96.37. The stock has a market cap of $46.57 billion, a P/E ratio of 40.99 and a beta of 0.72. Vmware, Inc. has a 12-month low of $72.48 and a 12-month high of $114.18.
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 during the quarter, compared to analysts’ expectations of $1.89 billion. Vmware had a net margin of 17.81% and a return on equity of 18.06%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. Equities research analysts predict that Vmware, Inc. will post $5.07 EPS for the current fiscal year.
Vmware announced that its Board of Directors has initiated a share repurchase plan on Monday, August 14th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the virtualization software provider to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Vmware news, COO Sanjay Poonen sold 1,134 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $106.51, for a total value of $120,782.34. Following the completion of the transaction, the chief operating officer now directly owns 192,774 shares of the company’s stock, valued at approximately $20,532,358.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider P. Kevan Krysler sold 13,751 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $107.69, for a total transaction of $1,480,845.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,885 shares of company stock valued at $2,248,548. 0.52% of the stock is currently owned by corporate insiders.
A number of equities analysts recently weighed in on the company. BMO Capital Markets upped their price target on Vmware from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Tuesday, August 15th. Citigroup Inc. upped their price target on Vmware from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Mizuho upped their price target on Vmware from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, August 14th. Robert W. Baird reaffirmed a “buy” rating and issued a $125.00 price target on shares of Vmware in a report on Wednesday, October 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $123.00 price target (up previously from $115.00) on shares of Vmware in a report on Wednesday, September 27th. Thirteen analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $112.28.
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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