Vmware (VMW) : Traders are bullish on Vmware (VMW) as it has outperformed the S&P 500 by a wide margin of 13.35% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.09%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.14% in the last 1 week, and is up 14.52% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 1% and the 50-Day Moving Average is 10.47%. Vmware (NYSE:VMW): stock turned positive on Friday. Though the stock opened at $70.46, the bulls momentum made the stock top out at $71.3 level for the day. The stock recorded a low of $70.26 and closed the trading day at $71.08, in the green by 0.08%. The total traded volume for the day was 969,885. The stock had closed at $71.02 in the previous days trading.
The company Insiders own 0.52% of Vmware shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -4.97% . Institutional Investors own 19.98% of Vmware shares. During last six month period, the net percent change held by insiders has seen a change of -9.54%. Also, Brokerage firm Citigroup downgrades its rating on Vmware (NYSE:VMW). As per the latest information, the brokerage house lowers the price target to $79 per share from a prior target of $99. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on July 26, 2016.
VMware, Inc. is a provider of virtualization 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). The Companys SDDC is designed to transform the data center into an on-demand service that addresses application requirements by abstracting, pooling and automating the services that are required from the underlying hardware. The hybrid cloud computing enables customers to utilize off-premise vSphere-based hybrid cloud computing capacity. End-user computing enables information technology (IT) organizations to deliver secure access to data, applications and devices to end users.