Michael S Dell, CEO, Director, and a more-than-10% owner of Dell Technologies Inc. (NYSE:DELL), sold shares worth $198.22 million last week. Generally, the sale of shares reflects concerns about the company’s growth potential. However, insiders could sell shares for other reasons, including financial obligations or personal reasons.
Dell Technologies is one of the largest personal computer (PC) manufacturers in the U.S. and worldwide. The company manufactures hardware and software services. In the past year, DELL shares have zoomed over 175%.
A Closer Look at the Insider’s Transactions
As per Form 4 filed with the SEC on June 10, The CEO undertook multiple sales of 1,480,242 DELL shares on June 6 and 10, at weighted average prices ranging between $132.3931 and $136.3817 apiece. It is worth noting that after the latest Informative Sell transactions, Michael Dell now owns 30.31 million Dell shares worth $3.94 billion.
Dell Technologies stock currently has a Very Negative Insider Confidence Signal on TipRanks based on Informative Sell transactions worth $779.2 million undertaken in the last three months.
It is important to keep an eye on the Informative trades of corporate insiders, given their knowledge of a company’s growth potential. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is Dell Stock a Good Buy Now?
Despite the CEO’s cautionary outlook, Wall Street remains highly optimistic about Dell stock. On TipRanks, DELL stock has a Strong Buy consensus rating based on 11 Buys, one Hold, and one Sell rating. The average Dell Technologies price target of $157.15 implies 18.7% upside potential from current levels.
