VMware Inc. (VMW) Sees Large Volume Increase
VMware Inc. (NYSE:VMW) shares saw an uptick in trading volume on Tuesday . 5,442,905 shares traded hands during mid-day trading, an increase of 81% from the previous session’s volume of 3,013,456 shares.The stock last traded at $73.39 and had previously closed at $73.78.
A number of brokerages have issued reports on VMW. Pacific Crest reaffirmed a “hold” rating on shares of VMware in a report on Sunday, May 22nd. Summit Redstone reaffirmed a “hold” rating and issued a $60.00 target price on shares of VMware in a report on Monday, July 11th. Vetr raised VMware from a “hold” rating to a “buy” rating and set a $63.40 target price for the company in a report on Monday, June 20th. Citigroup cut VMware from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $99.00 to $79.00 in a report on Tuesday, July 26th. Finally, MKM Partners upped their target price on VMware from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, twenty-four have given a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $76.72.
The stock has a 50 day moving average price of $71.86 and a 200-day moving average price of $59.85. The stock has a market capitalization of $31.15 billion and a price-to-earnings ratio of 29.57.
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VMware (NYSE:VMW) last posted its quarterly earnings data on Monday, July 18th. The virtualization software provider reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.02. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. On average, analysts predict that VMware Inc. will post $4.29 EPS for the current fiscal year.
In other news, VP S. Dawn Smith sold 632 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $76.40, for a total value of $48,284.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider P. Kevan Krysler sold 6,988 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $72.40, for a total value of $505,931.20. Following the completion of the sale, the insider now directly owns 78,654 shares in the company, valued at $5,694,549.60. The disclosure for this sale can be found here.
VMware, Inc is a provider of virtualization infrastructure solutions and cloud infrastructure solutions. The Company develops and markets its product and service offerings within three product groups, which include software-defined data center (SDDC), hybrid cloud computing and end-user computing (EUC).
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