Michael S. Dell Sells 1,839,959 Shares of Dell Technologies Inc. (NYSE:DELL) Stock

Dell Technologies Inc. (NYSE:DELL) CEO Michael S. Dell sold 1,839,959 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $106.68, for a total transaction of $196,286,826.12. Following the sale, the chief executive officer now directly owns 18,350,822 shares of the company’s stock, valued at approximately $1,957,665,690.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Dell Technologies Stock Up 2.0 %

NYSE:DELL opened at $108.80 on Thursday. The stock’s fifty day simple moving average is $115.08 and its 200-day simple moving average is $123.79. The firm has a market capitalization of $77.17 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.08 and a beta of 0.90. Dell Technologies Inc. has a 12-month low of $63.90 and a 12-month high of $179.70.

Dell Technologies (NYSE:DELL) last posted its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.14 billion. Dell Technologies had a negative return on equity of 182.71% and a net margin of 4.32%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 EPS. As a group, equities research analysts expect that Dell Technologies Inc. will post 6.9 earnings per share for the current year.

Institutional Investors Weigh In On Dell Technologies

Hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new stake in shares of Dell Technologies in the 4th quarter valued at $25,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Dell Technologies by 58.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock worth $25,000 after acquiring an additional 82 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of Dell Technologies during the second quarter worth about $28,000. New Covenant Trust Company N.A. bought a new position in shares of Dell Technologies during the 1st quarter valued at about $30,000. Finally, Nemes Rush Group LLC acquired a new position in shares of Dell Technologies in the 2nd quarter valued at approximately $33,000. 38.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DELL has been the topic of a number of research analyst reports. Evercore ISI restated an “outperform” rating and set a $140.00 price target on shares of Dell Technologies in a research report on Wednesday, August 28th. Wells Fargo & Company lowered their target price on Dell Technologies from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. TD Cowen reduced their price target on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Raymond James lowered their price objective on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Dell Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $135.75.

About Dell Technologies

Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through two segments, Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG).