Veritable L.P. Makes New Investment in VMware, Inc. (NYSE:VMW)

Veritable L.P. acquired a new stake in VMware, Inc. (NYSE:VMW) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,403 shares of the virtualization software provider’s stock, valued at approximately $202,000.

Other large investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of VMware in the 2nd quarter valued at approximately $275,000. Trivant Custom Portfolio Group LLC purchased a new position in shares of VMware in the 1st quarter valued at $25,000. WealthPLAN Partners LLC purchased a new position in shares of VMware in the 1st quarter valued at $26,000. Mcmillion Capital Management Inc. purchased a new position in shares of VMware in the 2nd quarter valued at $30,000. Finally, Zions Bancorporation N.A. grew its position in shares of VMware by 140.2% in the 1st quarter. Zions Bancorporation N.A. now owns 233 shares of the virtualization software provider’s stock valued at $27,000 after buying an additional 136 shares during the last quarter. 46.70% of the stock is owned by hedge funds and other institutional investors.

VMware Stock Up 0.2 %

VMW stock opened at $149.97 on Tuesday. VMware, Inc. has a one year low of $109.00 and a one year high of $181.14. The stock has a market capitalization of $64.76 billion, a PE ratio of 45.31 and a beta of 0.71. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.87 and a current ratio of 0.87. The company has a fifty day moving average of $158.97 and a 200-day moving average of $151.21.

VMware (NYSE:VMW) last released its earnings results on Thursday, August 31st. The virtualization software provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.71 by $0.12. VMware had a net margin of 10.48% and a return on equity of 113.34%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the business earned $0.99 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, analysts expect that VMware, Inc. will post 4.92 EPS for the current year.

Insider Activity at VMware

In related news, EVP Jean Pierre Brulard sold 4,966 shares of the firm’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $177.10, for a total value of $879,478.60. Following the completion of the sale, the executive vice president now owns 76,832 shares in the company, valued at $13,606,947.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 40.30% of the company’s stock.

Wall Street Analyst Weigh In

VMW has been the topic of a number of recent analyst reports. Monness Crespi & Hardt downgraded shares of VMware from a “buy” rating to a “neutral” rating in a research report on Monday, August 28th. BMO Capital Markets raised their price objective on shares of VMware from $140.00 to $160.00 and gave the stock a “market perform” rating in a research report on Friday, September 1st. StockNews.com assumed coverage on shares of VMware in a research report on Thursday, October 5th. They set a “strong-buy” rating on the stock. Mizuho raised their price objective on shares of VMware from $158.00 to $165.00 in a research report on Friday, September 1st. Finally, UBS Group raised their price objective on shares of VMware from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Friday, September 1st. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $160.25.

VMware Profile

VMware, Inc provides software solutions in the areas of modern applications, cloud management and infrastructure, networking, security, and 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; and vSAN and VxRail, which offers holistic data storage and protection options to applications running on vSphere; as well as VMware Cloud Foundation, a cloud platform that combines its vSphere, vSAN, and NSX with VMware Aria Cloud Management into an integrated stack that delivers ready cloud infrastructure for private and public clouds.