Convergence Investment Partners LLC lowered its holdings in VMware, Inc. (NYSE:VMW) by 32.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,894 shares of the virtualization software provider’s stock after selling 2,355 shares during the period. Convergence Investment Partners LLC’s holdings in VMware were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in VMW. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST grew its position in VMware by 142.1% in the first quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 1,743,098 shares of the virtualization software provider’s stock valued at $211,089,000 after purchasing an additional 1,023,098 shares in the last quarter. Swedbank grew its position in shares of VMware by 69.4% in the 1st quarter. Swedbank now owns 2,362,234 shares of the virtualization software provider’s stock valued at $286,067,000 after acquiring an additional 968,090 shares during the period. Alliancebernstein L.P. grew its position in shares of VMware by 84.4% in the 1st quarter. Alliancebernstein L.P. now owns 1,405,694 shares of the virtualization software provider’s stock valued at $170,230,000 after acquiring an additional 643,308 shares during the period. Norges Bank bought a new position in shares of VMware in the 4th quarter valued at about $92,521,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in shares of VMware in the 2nd quarter valued at about $91,781,000. 17.04% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Jean Pierre Brulard sold 4,271 shares of VMware stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $153.18, for a total transaction of $654,231.78. Following the sale, the executive vice president now directly owns 52,926 shares of the company’s stock, valued at approximately $8,107,204.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Rajiv Ramaswami sold 14,862 shares of VMware stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $124.73, for a total transaction of $1,853,737.26. Following the sale, the chief operating officer now directly owns 70,596 shares in the company, valued at $8,805,439.08. The disclosure for this sale can be found here. Insiders have sold a total of 118,264 shares of company stock worth $16,242,918 over the last ninety days. 28.50% of the stock is currently owned by insiders.
VMware (NYSE:VMW) last announced its quarterly earnings results on Thursday, May 28th. The virtualization software provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.32. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.62 billion. VMware had a net margin of 58.44% and a return on equity of 30.45%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 EPS. Research analysts expect that VMware, Inc. will post 3.78 EPS for the current fiscal year.
A number of brokerages have recently commented on VMW. Jefferies Financial Group lifted their price objective on shares of VMware from $135.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, May 29th. Wells Fargo & Co lifted their price objective on shares of VMware from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. William Blair reissued a “buy” rating on shares of VMware in a research report on Wednesday, June 24th. Stifel Nicolaus raised shares of VMware from a “hold” rating to a “buy” rating and lifted their price objective for the company from $166.00 to $196.00 in a research report on Tuesday, June 23rd. Finally, BMO Capital Markets raised their target price on shares of VMware from $152.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the stock. VMware has a consensus rating of “Buy” and a consensus price target of $166.78.
VMware, Inc provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces 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; and cloud management products for businesses with automated operation, programmable provisioning, and application monitoring solutions.
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