CIBC Asset Management Inc increases its equity holding in VMware, Inc. (NYSE: VMW)



CIBC Asset Management Inc. increased its stake in shares of VMware, Inc. (NYSE: VMW – Get Rating) by 24.5% during the first quarter, according to its most recent disclosure to the Securities and Exchange Commission. The company held 22,543 shares of the virtualization software provider after acquiring 4,439 additional shares during the quarter. The holdings of CIBC Asset Management Inc. in VMware were worth $2,567,000 when it was last filed with the Securities and Exchange Commission.

A number of other large investors also changed their holdings in VMW. Yousif Capital Management LLC purchased a new stake in VMware stock during the fourth quarter at a value of $337,000. CWM LLC bought a new position in VMware in the fourth quarter worth $104,000. Raymond James Trust NA increased its stake in VMware to 74.8% in the fourth quarter. Raymond James Trust NA now owns 2,533 shares of the virtualization software provider valued at $294,000 after buying an additional 1,084 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in VMware in the fourth quarter worth $28,208,000. Finally, Centaurus Financial Inc. increased its stake in VMware by 33.0% in the fourth quarter. Centaurus Financial Inc. now owns 1,636 shares of the virtualization software provider valued at $190,000 after buying 406 additional shares in the last quarter. Hedge funds and other institutional investors own 47.04% of the company’s shares.

Insider Activity at VMware

Separately, Executive Vice President Amy Fliegelman Olli sold 2,351 shares of the company in a trade dated Thursday, June 2. The shares were sold at an average price of $128.93, for a total value of $303,114.43. Following the completion of the sale, the executive vice president now owns 72,801 shares of the company, valued at $9,386,232.93. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other VMware news, Executive Vice President Jean Pierre Brulard sold 12,532 shares in a trade dated Tuesday, June 7. The shares were sold at an average price of $130.67, for a total value of $1,637,556.44. Following the completion of the transaction, the executive vice president now directly owns 83,060 shares of the company, valued at $10,853,450.20. The sale was disclosed in a filing with the SEC, which is available at this link. Additionally, Executive Vice President Amy Fliegelman Olli sold 2,351 shares in a trade dated Thursday, June 2. The shares were sold at an average price of $128.93, for a total transaction of $303,114.43. Following the completion of the transaction, the executive vice president now directly owns 72,801 shares of the company, valued at $9,386,232.93. The disclosure of this sale can be found here. Insiders sold a total of 42,369 shares of the company worth $5,413,470 in the past 90 days. Insiders of the company own 40.30% of the shares of the company.

VMware Stock Performance

Shares of VMW opened at $117.25 on Monday. VMware, Inc. has a fifty-two week low of $91.53 and a fifty-two week high of $167.83. The company has a market capitalization of $49.41 billion, a price-to-earnings ratio of 30.30, a growth price-to-earnings ratio of 1.03 and a beta of 0.67. The company has a 50-day simple moving average of $118.02 and a 200-day simple moving average of $116.36.

VMware (NYSE:VMW – Get Rating) last reported quarterly earnings data on Thursday, May 26. The virtualization software provider reported EPS of $0.71 for the quarter, missing analyst consensus estimates of $1.02 per ($0.31). The company posted revenue of $3.09 billion in the quarter, versus analyst estimates of $3.19 billion. VMware had a net margin of 12.65% and a return on equity of 41.24%. VMware revenue for the quarter increased 3.1% year over year. In the same quarter of the previous year, the company achieved EPS of $1.24. Equity research analysts expect VMware, Inc. to post EPS of 4.55 for the current year.

Changes to analyst ratings

VMW has been the subject of several recent analyst reports. Raymond James downgraded VMware from an “outperforming” rating to a “market performing” rating in a Wednesday, July 6 report. Deutsche Bank Aktiengesellschaft raised its target price on VMware from $135.00 to $142.50 in a Tuesday, May 31 report. Monness Crespi & Hardt lowered its price target on VMware to $136.00 and set a “sector weight” rating on the stock in a Thursday, May 19 report. Piper Sandler downgraded VMware from an “overweight” rating to a “neutral” rating and set a target price of $142.50 for the stock. in a report on Thursday, May 26. Finally, Jefferies Financial Group lowered its price target on VMware from $125.00 to $105.00 in a Monday, May 23 report. Twelve analysts gave the stock a hold rating and ten gave the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $139.91.

About VMware

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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 around the world. It offers VMware multi-cloud solutions, including VMware vSphere, a data center infrastructure that provides the foundational compute layer; vSAN and VxRail, which provide global storage and data protection options for applications running on vSphere; and vRealize Cloud Management solutions that manage 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 in one stack integrated and provides enterprises cloud-ready infrastructure for private and public clouds.

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Institutional Ownership by Quarter for VMware (NYSE:VMW)



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