Penn Capital Management Company LLC Takes $465,000 Position in VMware, Inc. (NYSE:VMW)

Penn Capital Management Company LLC bought a new position in shares of VMware, Inc. (NYSE:VMW) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,725 shares of the virtualization software provider’s stock, valued at approximately $465,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. lifted its holdings in shares of VMware by 75.4% during the 1st quarter. Ronald Blue Trust Inc. now owns 200 shares of the virtualization software provider’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in shares of VMware by 101.0% in the first quarter. Toth Financial Advisory Corp now owns 205 shares of the virtualization software provider’s stock valued at $26,000 after buying an additional 103 shares during the period. WealthPLAN Partners LLC bought a new stake in shares of VMware during the first quarter worth $26,000. Zions Bancorporation N.A. raised its holdings in shares of VMware by 140.2% during the first quarter. Zions Bancorporation N.A. now owns 233 shares of the virtualization software provider’s stock worth $27,000 after acquiring an additional 136 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in VMware in the 4th quarter valued at $29,000. 46.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at VMware

In other VMware news, EVP Jean Pierre Brulard sold 3,600 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $141.51, for a total transaction of $509,436.00. Following the transaction, the executive vice president now owns 103,905 shares of the company’s stock, valued at $14,703,596.55. The sale was disclosed in a document filed with the SEC, which is available through this link. 40.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on VMW. BMO Capital Markets lifted their price target on VMware from $140.00 to $160.00 and gave the company a “market perform” rating in a research note on Friday. Piper Sandler boosted their target price on VMware from $125.00 to $134.00 in a research note on Friday, June 2nd. UBS Group upped their price target on VMware from $180.00 to $182.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com downgraded shares of VMware from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Mizuho increased their target price on shares of VMware from $158.00 to $165.00 in a report on Friday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $160.25.

VMware Stock Down 2.8 %

Shares of NYSE:VMW traded down $4.68 during trading on Friday, hitting $164.10. 2,734,955 shares of the company were exchanged, compared to its average volume of 1,417,708. VMware, Inc. has a fifty-two week low of $103.55 and a fifty-two week high of $170.19. The stock has a market cap of $70.62 billion, a price-to-earnings ratio of 49.58 and a beta of 0.72. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 5.06. The firm has a fifty day moving average price of $155.86 and a two-hundred day moving average price of $135.74.

VMware (NYSE:VMW) last issued its earnings results on Thursday, August 31st. The virtualization software provider reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.12. VMware had a net margin of 9.57% and a return on equity of 162.41%. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts anticipate that VMware, Inc. will post 4.46 earnings per share for the current fiscal year.

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.