Dell Technologies (NYSE:DELL) Stock Price Up 1.1%

Shares of Dell Technologies Inc. (NYSE:DELL) shot up 1.1% on Wednesday . The company traded as high as $119.62 and last traded at $118.15. 3,103,499 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 10,346,639 shares. The stock had previously closed at $116.82.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DELL. Susquehanna started coverage on Dell Technologies in a report on Tuesday, September 10th. They set a “neutral” rating and a $120.00 price target on the stock. Citigroup increased their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Morgan Stanley decreased their price objective on shares of Dell Technologies from $142.00 to $136.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Mizuho began coverage on Dell Technologies in a research note on Tuesday. They issued an “outperform” rating and a $135.00 price target on the stock. Finally, Barclays upped their price objective on Dell Technologies from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Dell Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $135.71.

Dell Technologies Price Performance

The company has a market capitalization of $83.16 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 1.15 and a beta of 0.90. The business’s 50 day simple moving average is $112.79 and its 200 day simple moving average is $124.39.

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

Insider Buying and Selling

In related news, CEO Michael S. Dell sold 1,032,968 shares of Dell Technologies stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $113.67, for a total value of $117,417,472.56. Following the sale, the chief executive officer now directly owns 13,094,517 shares in the company, valued at $1,488,453,747.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 389,189 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $158.79, for a total transaction of $61,799,321.31. Following the completion of the transaction, the director now owns 731,612 shares of the company’s stock, valued at $116,172,669.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael S. Dell sold 1,032,968 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $113.67, for a total value of $117,417,472.56. Following the completion of the transaction, the chief executive officer now directly owns 13,094,517 shares of the company’s stock, valued at $1,488,453,747.39. The disclosure for this sale can be found here. Insiders sold 6,140,496 shares of company stock valued at $722,588,749 over the last ninety days. Corporate insiders own 46.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in Dell Technologies during the fourth quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV increased its stake 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 worth $25,000 after buying an additional 82 shares during the period. Accordant Advisory Group Inc purchased a new stake in shares of Dell Technologies during the second quarter worth about $28,000. New Covenant Trust Company N.A. acquired a new position in shares of Dell Technologies in the first quarter worth about $30,000. Finally, Nemes Rush Group LLC acquired a new stake in Dell Technologies during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 38.10% of the company’s stock.

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).