Ameriprise Financial Inc. cut its stake in shares of Vmware, Inc. (NYSE:VMW) by 6.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,423 shares of the virtualization software provider’s stock after selling 6,661 shares during the quarter. Ameriprise Financial Inc.’s holdings in Vmware were worth $8,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new position in shares of Vmware during the first quarter valued at $141,000. Penserra Capital Management LLC lifted its holdings in shares of Vmware by 13.0% during the second quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock valued at $181,000 after acquiring an additional 240 shares during the period. Eagle Global Advisors LLC bought a new position in shares of Vmware during the second quarter valued at $203,000. Sapphire Star Partners LP bought a new position in shares of Vmware during the second quarter valued at $210,000. Finally, First Citizens Bank & Trust Co. bought a new position in shares of Vmware during the second quarter valued at $252,000. 21.80% of the stock is owned by institutional investors.

Vmware, Inc. (VMW) opened at 113.62 on Monday. The company has a market cap of $46.46 billion, a PE ratio of 40.90 and a beta of 0.72. Vmware, Inc. has a one year low of $72.48 and a one year high of $114.18. The firm’s 50-day moving average price is $109.29 and its 200-day moving average price is $96.59.

Vmware (NYSE:VMW) last issued its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $1.90 billion during 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 business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. On average, equities research analysts forecast that Vmware, Inc. will post $5.07 earnings per share for the current fiscal year.

Vmware announced that its board has approved a stock repurchase program on Monday, August 14th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the virtualization software provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

VMW has been the subject of a number of analyst reports. Stifel Nicolaus raised Vmware from a “hold” rating to a “buy” rating and lifted their price objective for the company from $96.00 to $109.00 in a report on Wednesday, June 21st. Zacks Investment Research raised Vmware from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Thursday, July 13th. Citigroup Inc. lifted their price objective on Vmware from $120.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 11th. Mizuho lifted their price objective on Vmware from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, August 14th. Finally, Robert W. Baird set a $115.00 price objective on Vmware and gave the company a “buy” rating in a report on Monday, August 14th. Thirteen research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Vmware presently has an average rating of “Buy” and a consensus price target of $112.28.

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In related news, COO Sanjay Poonen sold 1,134 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $106.51, for a total transaction of $120,782.34. Following the completion of the sale, the chief operating officer now owns 192,774 shares of the company’s stock, valued at $20,532,358.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider P. Kevan Krysler sold 13,751 shares of the firm’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 sold 20,885 shares of company stock valued at $2,248,548. Insiders own 0.52% of the company’s stock.

About Vmware

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).

Institutional Ownership by Quarter for Vmware (NYSE:VMW)

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