Barclays Begins Coverage on VMware (VMW)
Investment analysts at Barclays began coverage on shares of VMware (NYSE:VMW) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $168.00 price target on the virtualization software provider’s stock. Barclays‘s price target points to a potential upside of 15.75% from the stock’s previous close.
Other research analysts have also issued reports about the stock. Oppenheimer dropped their price target on shares of VMware from $180.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday. Jefferies Financial Group raised their price target on shares of VMware from $186.00 to $196.00 and gave the company a “buy” rating in a research report on Friday, November 30th. Wedbush reissued an “outperform” rating and set a $200.00 price target on shares of VMware in a research report on Friday, November 30th. Stifel Nicolaus reissued a “hold” rating and set a $145.00 price target (up from $142.00) on shares of VMware in a research report on Friday, November 30th. Finally, Royal Bank of Canada raised their price target on shares of VMware from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $169.76.
VMware stock opened at $145.14 on Wednesday. VMware has a 1-year low of $108.46 and a 1-year high of $169.25. The firm has a market capitalization of $61.62 billion, a price-to-earnings ratio of 37.60, a price-to-earnings-growth ratio of 2.24 and a beta of 0.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.04 and a current ratio of 3.04.
In other news, CFO Zane Rowe sold 6,500 shares of VMware stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $165.08, for a total value of $1,073,020.00. Following the completion of the transaction, the chief financial officer now owns 89,276 shares in the company, valued at $14,737,682.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Rajiv Ramaswami sold 12,345 shares of VMware stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $143.73, for a total transaction of $1,774,346.85. Following the completion of the transaction, the chief operating officer now owns 218,011 shares of the company’s stock, valued at approximately $31,334,721.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,980 shares of company stock worth $14,583,411. Insiders own 29.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. TLP Group LLC purchased a new position in shares of VMware in the third quarter worth about $118,000. Moneta Group Investment Advisors LLC increased its stake in shares of VMware by 217.5% in the second quarter. Moneta Group Investment Advisors LLC now owns 1,000 shares of the virtualization software provider’s stock worth $147,000 after purchasing an additional 685 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of VMware in the third quarter worth about $181,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of VMware in the third quarter worth about $202,000. Finally, Calamos Advisors LLC purchased a new position in shares of VMware in the third quarter worth about $204,000. Hedge funds and other institutional investors own 18.52% of the company’s stock.
VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses 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; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.
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