Michael S. Dell Sells 221,460 Shares of Dell Technologies Inc. (NYSE:DELL) Stock

Dell Technologies Inc. (NYSE:DELL) CEO Michael S. Dell sold 221,460 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.07, for a total transaction of $22,604,422.20. Following the transaction, the chief executive officer now directly owns 20,190,781 shares of the company’s stock, valued at $2,060,873,016.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Dell Technologies Stock Up 3.1 %

Shares of Dell Technologies stock opened at $112.16 on Friday. The stock’s fifty day moving average is $114.47 and its two-hundred day moving average is $123.71. Dell Technologies Inc. has a 52 week low of $63.90 and a 52 week high of $179.70. The company has a market capitalization of $79.56 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 1.08 and a beta of 0.90.

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

Wall Street Analysts Forecast Growth

DELL has been the subject of a number of research analyst reports. TD Cowen cut their price objective on Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a research report on Friday, August 30th. JPMorgan Chase & Co. lifted their price objective on Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Fox Advisors raised shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a report on Friday, August 30th. Sanford C. Bernstein decreased their price target on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Finally, Raymond James dropped 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 note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Dell Technologies has an average rating of “Moderate Buy” and a consensus target price of $135.75.

Institutional Investors Weigh In On Dell Technologies

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

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).