Comerica Bank Boosts Stock Position in VMware, Inc. (NYSE:VMW)

Comerica Bank lifted its position in shares of VMware, Inc. (NYSE:VMWGet Rating) by 165.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,470 shares of the virtualization software provider’s stock after purchasing an additional 4,029 shares during the period. Comerica Bank’s holdings in VMware were worth $719,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of VMW. Vienna Asset Management LLC purchased a new stake in VMware in the fourth quarter worth about $31,000. Avondale Wealth Management purchased a new stake in VMware in the first quarter worth about $31,000. Rockbridge Investment Management LCC purchased a new stake in VMware in the fourth quarter worth about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in VMware in the fourth quarter worth about $36,000. Finally, McIlrath & Eck LLC lifted its holdings in VMware by 35.6% in the fourth quarter. McIlrath & Eck LLC now owns 316 shares of the virtualization software provider’s stock worth $37,000 after buying an additional 83 shares during the period. 47.04% of the stock is currently owned by hedge funds and other institutional investors.

VMware Trading Down 0.1 %

NYSE:VMW opened at $116.20 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.90. VMware, Inc. has a 12 month low of $91.53 and a 12 month high of $167.83. The company has a market cap of $48.97 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 1.00 and a beta of 0.70. The company has a 50 day simple moving average of $118.55 and a two-hundred day simple moving average of $116.74.

VMware (NYSE:VMWGet Rating) last posted its earnings results on Thursday, May 26th. The virtualization software provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.31). VMware had a return on equity of 41.24% and a net margin of 12.65%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the firm posted $1.24 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Research analysts forecast that VMware, Inc. will post 4.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Jean Pierre Brulard sold 12,532 shares of VMware stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $130.67, for a total transaction of $1,637,556.44. Following the transaction, the executive vice president now owns 83,060 shares in the company, valued at approximately $10,853,450.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Zane Rowe sold 9,148 shares of VMware stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $129.05, for a total transaction of $1,180,549.40. Following the transaction, the chief financial officer now owns 189,117 shares in the company, valued at approximately $24,405,548.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jean Pierre Brulard sold 12,532 shares of VMware stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $130.67, for a total transaction of $1,637,556.44. Following the transaction, the executive vice president now owns 83,060 shares in the company, valued at approximately $10,853,450.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,369 shares of company stock valued at $5,413,470. Company insiders own 40.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com lowered shares of VMware from a “strong-buy” rating to a “buy” rating in a report on Friday, May 27th. Royal Bank of Canada downgraded shares of VMware from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 26th. Jefferies Financial Group decreased their target price on shares of VMware from $125.00 to $105.00 in a research note on Monday, May 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of VMware from $135.00 to $142.50 in a research note on Tuesday, May 31st. Finally, Raymond James downgraded shares of VMware from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 6th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, VMware currently has a consensus rating of “Hold” and a consensus target price of $139.91.

VMware Profile

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VMware, Inc provides software solutions in the areas of modern applications, cloud management and infrastructure, networking, security, and digital workspaces in the United States and internationally. It offers VMware multi-cloud solutions, including VMware vSphere, a data center infrastructure that provides the fundamental compute layer; vSAN and VxRail, which offers holistic data storage and protection options to applications running on vSphere; and vRealize Cloud Management solutions that manages hybrid and multi-cloud environments running in virtual machines and containers, as well as VMware Cloud Foundation, a cloud platform that combines its vSphere, vSAN, and NSX with vRealize Cloud Management into an integrated stack and delivers enterprise-ready cloud infrastructure for private and public clouds.

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Institutional Ownership by Quarter for VMware (NYSE:VMW)

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