Baird Financial Group Inc. Cuts Stake in VMware, Inc. (NYSE:VMW)

Baird Financial Group Inc. reduced its stake in shares of VMware, Inc. (NYSE:VMWGet Rating) by 37.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,485 shares of the virtualization software provider’s stock after selling 7,462 shares during the period. Baird Financial Group Inc.’s holdings in VMware were worth $1,422,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Comerica Bank raised its holdings in VMware by 165.1% in the first quarter. Comerica Bank now owns 6,470 shares of the virtualization software provider’s stock valued at $719,000 after buying an additional 4,029 shares during the period. Signaturefd LLC grew its position in shares of VMware by 6.9% during the first quarter. Signaturefd LLC now owns 3,211 shares of the virtualization software provider’s stock worth $366,000 after buying an additional 207 shares in the last quarter. Atria Investments LLC acquired a new stake in shares of VMware during the first quarter worth approximately $1,027,000. National Asset Management Inc. grew its position in shares of VMware by 98.7% during the first quarter. National Asset Management Inc. now owns 5,807 shares of the virtualization software provider’s stock worth $662,000 after buying an additional 2,885 shares in the last quarter. Finally, Hallmark Capital Management Inc. boosted its holdings in VMware by 9.1% in the first quarter. Hallmark Capital Management Inc. now owns 2,275 shares of the virtualization software provider’s stock worth $259,000 after purchasing an additional 190 shares during the period. 47.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other VMware news, EVP Jean Pierre Brulard sold 359 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $111.05, for a total value of $39,866.95. Following the sale, the executive vice president now directly owns 82,777 shares in the company, valued at $9,192,385.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 40.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group decreased their price objective on shares of VMware to $131.00 in a report on Wednesday. StockNews.com assumed coverage on shares of VMware in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Finally, Mizuho decreased their price objective on shares of VMware from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.32.

VMware Price Performance

Shares of VMware stock opened at $116.56 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 79.86. The company’s 50-day moving average price is $111.13 and its two-hundred day moving average price is $114.14. VMware, Inc. has a 52 week low of $91.53 and a 52 week high of $136.85. The stock has a market cap of $49.31 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 1.56 and a beta of 0.68.

VMware (NYSE:VMWGet Rating) last issued its quarterly earnings results on Thursday, August 25th. The virtualization software provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.07). VMware had a return on equity of 80.84% and a net margin of 11.97%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter last year, the firm posted $1.18 earnings per share. VMware’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that VMware, Inc. will post 4.34 EPS for the current fiscal year.

VMware Company 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.

See Also

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Institutional Ownership by Quarter for VMware (NYSE:VMW)

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