Wright Investors Service Inc. decreased its position in VMware, Inc. (NYSE:VMW) by 14.6% during the first quarter, HoldingsChannel.com reports. The fund owned 15,308 shares of the virtualization software provider’s stock after selling 2,608 shares during the quarter. VMware accounts for approximately 1.1% of Wright Investors Service Inc.’s investment portfolio, making the stock its 26th largest position. Wright Investors Service Inc.’s holdings in VMware were worth $2,763,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. increased its position in shares of VMware by 5.9% in the first quarter. Oppenheimer & Co. Inc. now owns 9,214 shares of the virtualization software provider’s stock valued at $1,663,000 after acquiring an additional 514 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of VMware by 16.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,267 shares of the virtualization software provider’s stock valued at $409,000 after purchasing an additional 326 shares in the last quarter. Harvest Management LLC bought a new stake in shares of VMware during the 1st quarter valued at about $253,000. Investec Asset Management PTY Ltd boosted its stake in shares of VMware by 2.7% during the 1st quarter. Investec Asset Management PTY Ltd now owns 14,973 shares of the virtualization software provider’s stock valued at $2,673,000 after purchasing an additional 389 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of VMware during the 1st quarter valued at about $239,000. Hedge funds and other institutional investors own 17.90% of the company’s stock.
NYSE:VMW traded up $0.05 during mid-day trading on Thursday, hitting $198.54. 8,539 shares of the company’s stock were exchanged, compared to its average volume of 964,887. VMware, Inc. has a one year low of $129.33 and a one year high of $199.10. The company has a debt-to-equity ratio of 7.70, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $81.47 billion, a P/E ratio of 40.57, a PEG ratio of 3.10 and a beta of 0.77.
In other news, COO Rangarajan (Raghu) Raghuram sold 36,311 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $170.24, for a total value of $6,181,584.64. Following the transaction, the chief operating officer now owns 304,104 shares in the company, valued at $51,770,664.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy Fliegelman Olli sold 1,723 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $178.98, for a total transaction of $308,382.54. Following the completion of the transaction, the vice president now owns 34,332 shares in the company, valued at approximately $6,144,741.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 281,034 shares of company stock worth $51,095,681. Insiders own 29.90% of the company’s stock.
A number of brokerages have recently weighed in on VMW. Morgan Stanley lowered shares of VMware from an “overweight” rating to an “equal” rating and cut their target price for the company from $175.00 to $152.00 in a research note on Tuesday, January 15th. KeyCorp lifted their target price on shares of VMware from $172.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Deutsche Bank lifted their target price on shares of VMware from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, March 1st. BMO Capital Markets began coverage on shares of VMware in a research note on Thursday, January 10th. They set an “outperform” rating and a $170.00 target price on the stock. Finally, Wedbush lifted their target price on shares of VMware from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. VMware has a consensus rating of “Hold” and a consensus target price of $181.74.
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VMware Company Profile
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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