On July 20, 2023, Dell Technologies Inc. (NYSE:DELL) experienced a significant decline in short interest during the month of June. Data shows that as of June 30th, there was a total short interest of 8,030,000 shares, which reflected a decrease of 14.0% from the previous total of 9,340,000 shares on June 15th. This decline is noteworthy and highlights the changing sentiment surrounding the technology company.
For context, the days-to-cover ratio currently stands at 1.7 days based on an average daily volume of 4,730,000 shares. Additionally, it is worth mentioning that currently only 3.3% of the total shares are sold short.
Despite these changes in short interest, several hedge funds have recently made notable transactions involving Dell Technologies’ stock. New York Life Investment Management LLC increased its holdings by 2.8% during the first quarter and now owns approximately 7,986 shares valued at $321,000. Similarly, Mirador Capital Partners LP raised its holdings by 1.8% during the fourth quarter and currently possesses around 13,310 shares worth $535,000.
Other institutional investors such as Hazlett Burt & Watson Inc., Ellevest Inc., and CWM LLC also saw increases in their stakes in Dell Technologies’ stock during different periods. These transactions indicate ongoing investment activity from established entities within the financial industry.
In recent news related to Dell Technologies Inc., Chief Marketing Officer (CMO) Allison Dew sold a substantial number of company shares on July 13th. The transaction involved selling a total of 329,038 shares at an average price of $55.24 per share for a grand total of $18,176,059.12 in proceeds generated from the sale.
Following this transaction with insider involvement in terms of share sales by corporate executives, CMO Allison Dew now directly owns 98,354 shares of Dell Technologies’ stock, valued at approximately $5,433,074.96. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission (SEC), accessible through the SEC website.
Another significant transaction occurred on July 11th when Director Iv (Gp) L.L.C. Slta sold a substantial amount of company shares. The transaction involved the sale of 3,529,000 shares at an average price of $55.36 per share, resulting in a total transaction value of $195,365,440.00. Following this sale, the director now holds 135,124 shares in Dell Technologies Inc., valued at $7,480,464.64.
It is important to note that corporate insiders currently own 48.60% of the company’s stock.
Regarding Dell Technologies’ financial performance for the second quarter ended June 1st, there were some positive outcomes announced by the technology company on June 1st. The quarterly earnings report indicated earnings per share (EPS) of $1.31 for the quarter – surpassing analysts’ consensus estimate by a notable margin of $0.45.
Furthermore, Dell Technologies achieved revenue of $20.92 billion during the same period – exceeding analyst estimates of $20.27 billion. However, it is worth mentioning that this figure represents a decrease of 19.9% compared to the previous year’s revenue for the same quarter.
The net margin was reported at 2.01%, while there was a negative return on equity (ROE) standing at -149.49%. Ultimately, these financial results reflect a mix of positive and challenging aspects for Dell Technologies during the second fiscal quarter.
Analysts anticipate that Dell Technologies will post earnings per share (EPS) totaling approximately 4.59 for the current fiscal year.
Overall, with fluctuations in short interest and insider share sales, as well as the involvement of hedge funds and institutional investors, Dell Technologies (NYSE:DELL) continues to navigate an evolving landscape. As investors assess these developments alongside the company’s financial performance, it remains to be seen how Dell Technologies will position itself within the highly competitive technology industry.
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Dell Technologies Receives Positive Analyst Endorsements and Demonstrates Market Ascendancy
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”DELL” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]In recent months, Dell Technologies (DELL) has been the subject of extensive research reports, leading to an influx of endorsements and price objective revisions. These reports have attracted the attention and interest of both investors and analysts alike. Notably, Evercore ISI amplified their price target for Dell Technologies from $50.00 to $55.00 and bestowed upon the company an “outperform” rating in a research note dated May 19th this year. Raymond James also showed optimism by increasing their price objective from $45.00 to $50.00 on June 2nd.
Another reputable institution, Bank of America was not left behind in recognizing Dell’s growth potential, upping their price objective from $55.00 to $60.00 on June 28th. Barclays also demonstrated confidence in Dell Technologies, increasing their price target from $40.00 to $45.00 on the same day as Raymond James – June 2nd.
Further support for Dell Technologies’ positive outlook comes from Morgan Stanley, who efficaciously raised their price target from $55.00 to $56.00 on June 2nd as well, emphasizing yet another uplifting endorsement for DELL stock among analysts.
Analyzing these recommendations collectively, it is apparent that optimism surrounds Dell Technologies’ future prospects amidst evolving market dynamics and technological advancements shaping the industry landscape.
While five analysts have maintained hold ratings for DELL stock, an impressive eleven buy ratings underpin its undeniable potential across various investor communities.
Bloomberg provides a broader consensus on the matter by assigning Dell Technologies with an average rating of “Moderate Buy,” reflecting overall optimism within the marketplace regarding future returns for those considering investment opportunities within the technology sector giant.
As trading commenced on Thursday, shares of DELL opened at a commendable valuation of $54.30, signifying ongoing growth and affluence generated by remarkable business operations undertaken by Dell Technologies- propelling its market capitalization to an impressive $39.49 billion. The company’s P/E ratio stands at 20.57 while boasting a PEG ratio of 0.99 – indications that mirror the organization’s attractiveness from an investor standpoint.
Furthermore, Dell Technologies’ beta score of 1.06 suggests a direct correlation with the overall market, thus diversifying and hedging potential risks associated with investing in individual stocks.
Examining DELL’s performance over the past year provides substantial insights into its resilience amidst challenging economic environments- demonstrated by a year-low of $32.90 and an impressive year-high of $56.10, boding well for long-term investors seeking stability within enticing revenue prospects.
Technical analysts often scrutinize simple moving averages (SMA) as key indicators when making investment decisions. Dell Technologies has showcased consistent growth in this aspect as well, with the firm currently recording a 50-day SMA of $49.89 and a 200-day SMA of $44.21, showcases convincing signs of consistent expansion – further reinforcing the consensus that Dell Technologies remains an attractive proposition for potential investors.
In conclusion, Dell Technologies has garnered significant attention from both analysts and investors with their recent research reports emphasizing its market ascendancy in the technology sector. With endorsements ranging from “outperform” ratings to multiple price objective revisions, it is evident that Dell Technologies is positioned favorably for future growth and success within the industry.
Trading at an auspicious valuation of $54.30 per share on Thursday, coupled with robust financial metrics such as a substantial market cap and appealing price-to-earnings ratio, augments confidence within investor circles towards securing returns on investments.
Conclusively, Dell Technologies’ steadfastness throughout various market conditions is reflected through its noteworthy one-year trading range and favorable moving average trends – substantiating claims made by analysts regarding its promising trajectory in the foreseeable future. Investors must take heed of these distinctive factors when making informed decisions in their pursuit of lucrative investments.
