Dell Technologies (NYSE:DELL) Sees Large Volume Increase Following Analyst Upgrade

Dell Technologies Inc. (NYSE:DELLGet Free Report) saw strong trading volume on Thursday after Bank of America raised their price target on the stock from $130.00 to $180.00. Bank of America currently has a buy rating on the stock. 6,975,398 shares traded hands during mid-day trading, a decline of 7% from the previous session’s volume of 7,500,849 shares.The stock last traded at $169.21 and had previously closed at $179.21.

Other equities analysts have also issued research reports about the company. Barclays lifted their price objective on Dell Technologies from $94.00 to $98.00 and gave the company an “underweight” rating in a research note on Tuesday, May 21st. Sanford C. Bernstein increased their target price on Dell Technologies from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, May 20th. Citigroup boosted their price target on Dell Technologies from $125.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Evercore ISI lifted their price objective on Dell Technologies from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Finally, Loop Capital lifted their price target on Dell Technologies from $125.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.25.

Read Our Latest Research Report on DELL

Insider Activity at Dell Technologies

In other Dell Technologies news, insider Jennifer D. Saavedra sold 18,260 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $120.10, for a total transaction of $2,193,026.00. Following the sale, the insider now directly owns 206,961 shares of the company’s stock, valued at approximately $24,856,016.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 373,375 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $126.32, for a total transaction of $47,164,730.00. Following the completion of the sale, the director now directly owns 408,694 shares in the company, valued at $51,626,226.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer D. Saavedra sold 18,260 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $120.10, for a total value of $2,193,026.00. Following the sale, the insider now owns 206,961 shares of the company’s stock, valued at approximately $24,856,016.10. The disclosure for this sale can be found here. Insiders sold 6,382,204 shares of company stock worth $718,452,037 over the last 90 days. Company insiders own 46.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp acquired a new stake in Dell Technologies during the fourth quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Dell Technologies by 58.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock worth $25,000 after purchasing an additional 82 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in shares of Dell Technologies during the 4th quarter valued at $26,000. Pinnacle Bancorp Inc. boosted its position in shares of Dell Technologies by 96.9% in the 4th quarter. Pinnacle Bancorp Inc. now owns 382 shares of the technology company’s stock valued at $29,000 after purchasing an additional 188 shares during the period. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Dell Technologies during the first quarter valued at approximately $30,000. 38.10% of the stock is owned by institutional investors and hedge funds.

Dell Technologies Stock Down 5.2 %

The stock has a market capitalization of $121.33 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 2.59 and a beta of 0.87. The firm has a 50-day moving average of $130.66 and a two-hundred day moving average of $100.40.

Dell Technologies (NYSE:DELLGet Free Report) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.47. Dell Technologies had a negative return on equity of 172.07% and a net margin of 3.63%. The company had revenue of $22.32 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the business earned $1.55 EPS. The business’s quarterly revenue was down 10.9% on a year-over-year basis. As a group, sell-side analysts predict that Dell Technologies Inc. will post 6.74 EPS for the current year.

About Dell Technologies

(Get Free Report)

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).

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