VMware (NYSE:VMW) Shares Down 7%

Shares of VMware, Inc. (NYSE:VMW) were down 7% on Thursday . The company traded as low as $141.16 and last traded at $142.35, approximately 4,080,570 shares traded hands during trading. An increase of 217% from the average daily volume of 1,286,543 shares. The stock had previously closed at $153.09.

A number of research analysts recently weighed in on VMW shares. Cleveland Research reissued a “buy” rating on shares of VMware in a report on Tuesday, May 28th. Barclays boosted their target price on VMware from $200.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. BMO Capital Markets upped their price objective on VMware from $195.00 to $198.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Zacks Investment Research lowered VMware from a “hold” rating to a “sell” rating and set a $178.00 price objective on the stock. in a report on Wednesday, June 5th. Finally, Bank of America reaffirmed a “buy” rating and issued a $225.00 price objective on shares of VMware in a report on Friday, May 31st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $192.23.

The business has a 50-day moving average price of $168.40 and a two-hundred day moving average price of $178.01. The stock has a market capitalization of $64.76 billion, a P/E ratio of 28.87, a P/E/G ratio of 2.44 and a beta of 0.81. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 7.57.

VMware (NYSE:VMW) last released its earnings results on Thursday, May 30th. The virtualization software provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.42. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.25 billion. VMware had a return on equity of 36.48% and a net margin of 21.50%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 EPS. On average, sell-side analysts forecast that VMware, Inc. will post 4.87 earnings per share for the current fiscal year.

In other news, CEO Patrick P. Gelsinger sold 20,000 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $180.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the chief executive officer now directly owns 445,214 shares in the company, valued at approximately $80,138,520. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Rajiv Ramaswami sold 38,813 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $170.58, for a total value of $6,620,721.54. Following the sale, the chief operating officer now owns 181,243 shares of the company’s stock, valued at $30,916,430.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,053 shares of company stock valued at $14,639,696. Corporate insiders own 28.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Clarus Wealth Advisors bought a new stake in shares of VMware during the 2nd quarter worth $29,000. Coastal Capital Group Inc. bought a new stake in shares of VMware during the 2nd quarter worth $29,000. TRUE Private Wealth Advisors bought a new stake in shares of VMware during the 2nd quarter worth $31,000. CSat Investment Advisory L.P. bought a new stake in shares of VMware during the 2nd quarter worth $34,000. Finally, Pacific Center for Financial Services lifted its position in shares of VMware by 94.3% during the 2nd quarter. Pacific Center for Financial Services now owns 206 shares of the virtualization software provider’s stock worth $34,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 17.82% of the company’s stock.

About VMware (NYSE:VMW)

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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