Vident Investment Advisory LLC Lowers Position in VMware, Inc. (VMW)
Vident Investment Advisory LLC reduced its position in VMware, Inc. (NYSE:VMW) by 33.3% during the second quarter, HoldingsChannel.com reports. The fund owned 2,623 shares of the virtualization software provider’s stock after selling 1,311 shares during the quarter. Vident Investment Advisory LLC’s holdings in VMware were worth $386,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in VMW. Point72 Asia Hong Kong Ltd bought a new stake in VMware in the 1st quarter valued at about $106,000. Perigon Wealth Management LLC bought a new stake in VMware in the 1st quarter valued at about $121,000. Signet Financial Management LLC bought a new stake in VMware in the 2nd quarter valued at about $151,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in VMware in the 1st quarter valued at about $167,000. Finally, Hilltop Holdings Inc. bought a new stake in VMware in the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 20.11% of the company’s stock.
In other news, CEO Patrick P. Gelsinger sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $152.13, for a total transaction of $3,803,250.00. Following the completion of the transaction, the chief executive officer now owns 411,923 shares of the company’s stock, valued at $62,665,845.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Sanjay Poonen sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $160.15, for a total value of $3,203,000.00. The disclosure for this sale can be found here. Insiders have sold 128,518 shares of company stock valued at $20,027,627 in the last three months. 29.90% of the stock is owned by insiders.
VMware (NYSE:VMW) last announced its quarterly earnings results on Thursday, August 23rd. The virtualization software provider reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.05. VMware had a return on equity of 20.00% and a net margin of 18.77%. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. sell-side analysts predict that VMware, Inc. will post 4.73 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on VMW. Zacks Investment Research cut VMware from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. BMO Capital Markets boosted their price objective on VMware from $138.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, June 1st. Robert W. Baird restated a “buy” rating and issued a $163.00 price objective on shares of VMware in a research note on Friday, June 1st. JPMorgan Chase & Co. boosted their price objective on VMware from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, June 1st. Finally, Wells Fargo & Co boosted their price objective on VMware from $135.00 to $155.00 and gave the company a “market perform” rating in a research note on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $155.35.
VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.
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