SG Americas Securities LLC Lowers Position in Vmware, Inc. (VMW)
SG Americas Securities LLC lowered its position in Vmware, Inc. (NYSE:VMW) by 89.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,865 shares of the virtualization software provider’s stock after selling 65,276 shares during the period. SG Americas Securities LLC’s holdings in Vmware were worth $859,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC grew its holdings in Vmware by 13.0% during the 2nd 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 last quarter. Enterprise Financial Services Corp grew its holdings in Vmware by 3,975.6% during the 3rd quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock valued at $182,000 after buying an additional 1,630 shares during the last quarter. BlueMountain Capital Management LLC acquired a new stake in Vmware during the 2nd quarter valued at $191,000. Eagle Global Advisors LLC acquired a new stake in Vmware during the 2nd quarter valued at $203,000. Finally, Raymond James Trust N.A. acquired a new stake in Vmware during the 3rd quarter valued at $214,000. Institutional investors and hedge funds own 22.21% of the company’s stock.
Shares of Vmware, Inc. (NYSE:VMW) traded down $9.35 on Tuesday, hitting $115.09. The company had a trading volume of 4,958,400 shares, compared to its average volume of 1,616,607. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.10. The stock has a market cap of $50,977.22, a price-to-earnings ratio of 33.72, a P/E/G ratio of 2.85 and a beta of 0.67. Vmware, Inc. has a twelve month low of $77.94 and a twelve month high of $127.60.
Vmware (NYSE:VMW) last issued its earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Vmware had a return on equity of 18.58% and a net margin of 18.97%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.14 EPS. equities research analysts forecast that Vmware, Inc. will post 3.79 EPS for the current year.
Vmware declared that its Board of Directors has authorized a stock 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of equities research analysts have commented on VMW shares. Citigroup increased their target price on Vmware from $120.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 11th. Bank of America upgraded Vmware from a “neutral” rating to a “buy” rating and increased their target price for the company from $108.00 to $120.00 in a report on Friday, August 25th. Robert W. Baird reiterated a “buy” rating and set a $120.00 target price (up previously from $115.00) on shares of Vmware in a report on Friday, August 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $113.00 target price on shares of Vmware in a report on Tuesday, August 15th. Finally, Deutsche Bank raised Vmware from a “hold” rating to a “buy” rating and increased their price target for the stock from $110.00 to $120.00 in a research note on Tuesday, August 22nd. Fifteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Vmware has an average rating of “Buy” and a consensus target price of $124.50.
In related news, COO Rajiv Ramaswami sold 9,747 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $118.16, for a total value of $1,151,705.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the chief operating officer now directly owns 192,774 shares in the company, valued at $20,532,358.74. The disclosure for this sale can be found here. Insiders sold a total of 446,563 shares of company stock worth $48,896,887 over the last ninety days. Corporate insiders own 34.40% of the company’s stock.
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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