On May 16, 2023, Impax Asset Managment Group plc announced that they had increased their holdings in VMware, Inc. by 26.4% during the fourth quarter. According to the company’s most recent 13F filing with the SEC, Impax Asset Management Group plc owned 8,708 shares of VMware worth $1,069,000 at the time of the filing.
VMware is a company that specializes in providing cloud infrastructure and business mobility services. Its offerings include Software-Defined Data Centers, Hybrid Cloud Computing and End-User Computing solutions that enable clients to modernize data centers, integrate public clouds, empower digital workspaces while transforming security.
Several analysts have commented on VMWare’s stock in recent months. BMO Capital Markets lowered its price target from $142.50 to $139.00 and assigned a “market perform” rating for the company in a research report published on Monday March 6th. Meanwhile, Piper Sandler lowered its price objective from $142.50 to $125.00 in an April 27th research report.
Yet there are reasons for optimism about VMware’s future prospects as well. UBS Group raised its price objective on shares of VMware from $131.00 to $147.00 and gave it a “neutral” rating in a research report issued on February 7th while StockNews.com offered up a “strong-buy” rating for the company.
All things considered then, it seems clear that there are mixed feelings about VMWare right now among experts and investors alike; some are cautious about the firm’s fortunes going forward due to several headwinds affecting many tech companies currently such as rising geopolitical tensions and supply chain uncertainties while others believe this creates an opportunity for buyers to gain exposure at an attractive valuation point given how quickly industry dynamics can shift once again over time depending upon factors beyond any one corporation or market sector.
One thing remains certain: Impax Asset Management Group plc’s increased holdings in VMWare suggest they’re still bullish on the company despite these challenges, as they believe present risks can be mitigated and long-term potential achieved if handled in a prudent way.
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Institutional Investors Show Increased Interest in VMware, Inc.
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”VMW” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]May 16, 2023 – VMware, Inc., the cloud infrastructure and business mobility provider, continues to attract attention from institutional investors with several hedge funds adding to or reducing their stakes in the company. According to reports, Vanguard Group Inc. lifted its position in the tech giant by 8.3% during the third quarter taking its share ownership to 14,338,363 shares valued at $1,526,461,000. UBS Asset Management Americas Inc., State Street Corp and Wellington Management Group LLP also increased their positions in VMware during this period.
Marshall Wace LLP’s investment was particularly noteworthy with the firm raising its position in VMware by an astounding 28.5%, owning approximately $289.205 million worth of shares at present.
Institutional investors now own nearly 46% of the total shares outstanding for VMware as it continues to hold its place as one of the largest virtualization software providers on the market.
In unrelated news, CFO Zane Rowe recently sold over $4 million dollars worth of stock – approximately 35,715 shares – on April 3rd making his current holding at a sizeable 174,162 shares valued around $21.6 million dollars.
VMware currently trades on NYSE under ticker symbol VMW with an opening price of $124.17 on Tuesday May 16th. It has reached a high of $132.15 within a year while maintaining a low of around $91.53 for the same period.
The organization expects earnings per share (EPS) to reach approximately $4.89 by December-end this year based on previous quarterly numbers wherein it topped analysts’ consensus estimates with impressive results despite being compared against expectations higher than revenue projections presented at that time period.
