Arrowstreet Capital Limited Partnership Buys 501,400 Shares of Vmware, Inc. (VMW)
Arrowstreet Capital Limited Partnership boosted its stake in shares of Vmware, Inc. (NYSE:VMW) by 75.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,169,757 shares of the virtualization software provider’s stock after purchasing an additional 501,400 shares during the period. Arrowstreet Capital Limited Partnership owned 0.29% of Vmware worth $102,272,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of VMW. Oppenheimer Asset Management Inc. bought a new stake in Vmware in the first quarter valued at approximately $141,000. Penserra Capital Management LLC raised its stake in Vmware by 13.0% in the second quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock valued at $181,000 after buying an additional 240 shares during the period. BlueMountain Capital Management LLC bought a new stake in Vmware in the second quarter valued at approximately $191,000. BB&T Securities LLC bought a new stake in Vmware in the first quarter valued at approximately $209,000. Finally, Eagle Global Advisors LLC bought a new stake in Vmware in the second quarter valued at approximately $203,000. 21.82% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Berenberg Bank restated a “hold” rating and issued a $94.00 price objective on shares of Vmware in a research note on Tuesday, August 29th. Bank of America Corporation upgraded Vmware from a “neutral” rating to a “buy” rating and increased their target price for the stock from $108.00 to $120.00 in a research note on Friday, August 25th. Zacks Investment Research lowered Vmware from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Robert W. Baird reiterated a “buy” rating and set a $125.00 target price on shares of Vmware in a research note on Wednesday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $123.00 target price (up previously from $115.00) on shares of Vmware in a research note on Wednesday, September 27th. Thirteen research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $112.28.
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Vmware, Inc. (NYSE:VMW) traded down 0.05% on Friday, hitting $111.53. The stock had a trading volume of 1,250,100 shares. The company has a market cap of $45.61 billion, a P/E ratio of 40.15 and a beta of 0.72. The stock’s 50-day moving average is $107.16 and its 200-day moving average is $95.77. Vmware, Inc. has a 52-week low of $72.27 and a 52-week high of $112.00.
Vmware (NYSE:VMW) last posted its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Vmware had a net margin of 17.81% and a return on equity of 18.06%. Vmware’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. Analysts expect that Vmware, Inc. will post $5.07 earnings per share for the current year.
Vmware declared that its board has initiated a share buyback program on Monday, August 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In other news, COO Rajiv Ramaswami sold 20,457 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the completion of the sale, the chief operating officer now directly owns 313,721 shares in the company, valued at $27,557,252.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Sanjay Poonen sold 1,134 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $106.51, for a total transaction of $120,782.34. Following the sale, the chief operating officer now owns 192,774 shares of the company’s stock, valued at $20,532,358.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,342 shares of company stock valued at $4,045,490. 0.52% of the stock is currently owned by company insiders.
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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