Michael S. Dell Sells 1,032,968 Shares of Dell Technologies Inc. (NYSE:DELL) Stock

Dell Technologies Inc. (NYSE:DELL) CEO Michael S. Dell sold 1,032,968 shares of Dell Technologies stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $113.67, for a total value of $117,417,472.56. Following the transaction, the chief executive officer now owns 13,094,517 shares of the company’s stock, valued at approximately $1,488,453,747.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Dell Technologies Price Performance

Shares of DELL stock opened at $114.30 on Friday. The company has a market capitalization of $81.07 billion, a P/E ratio of 23.33, a P/E/G ratio of 1.15 and a beta of 0.90. The company’s 50-day simple moving average is $113.98 and its two-hundred day simple moving average is $124.09. Dell Technologies Inc. has a one year low of $63.90 and a one year high of $179.70.

Dell Technologies (NYSE:DELL) last posted its earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. Dell Technologies’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.44 earnings per share. On average, research analysts expect that Dell Technologies Inc. will post 6.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Dell Technologies

Several hedge funds and other institutional investors have recently modified their holdings of DELL. Jones Financial Companies Lllp purchased a new position in Dell Technologies during the fourth quarter worth about $25,000. Massmutual Trust Co. FSB ADV lifted its stake in 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 during the last quarter. Accordant Advisory Group Inc purchased a new position in Dell Technologies in the second quarter worth approximately $28,000. New Covenant Trust Company N.A. purchased a new stake in shares of Dell Technologies during the 1st quarter worth approximately $30,000. Finally, Nemes Rush Group LLC purchased a new stake in shares of Dell Technologies during the 2nd quarter worth approximately $33,000. 38.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DELL has been the subject of a number of analyst reports. Morgan Stanley cut their price target on Dell Technologies from $142.00 to $136.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Loop Capital lifted their target price on shares of Dell Technologies from $125.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Wells Fargo & Company dropped their target price on shares of Dell Technologies from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Barclays lifted their target price on shares of Dell Technologies from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Finally, Sanford C. Bernstein lowered their price target on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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).