“During August, there was a significant increase in the number of short positions on shares of Dell Technologies Inc. (NYSE: DELL). The number of borrowed shares increased by 25.5% from the previous day’s total of 5,760,000 shares to 7,230,000 shares as of August 31. The days it takes to cover short positions are now at 2.2, and around 2.9% of the company’s shares are sold short.
In recent times, there has been significant market activity from several hedge funds, including buying and selling shares of the company’s stock. During the first quarter, Trustcore Financial Services LLC increased its ownership in Dell Technologies by approximately $26,000. In addition, Brown Brothers Harriman & Co. acquired a new interest in Dell Technologies for roughly $27,000. Both of these transactions took place during the first quarter. After purchasing 452 additional shares in the prior quarter, Centerpoint Advisors LLC increased its holdings in Dell Technologies by 307.5% during the second quarter. In other news, on September 12, an insider at the business, William F. Scannell, sold 27,536 shares of company stock.
The sale of the shares resulted in a total transaction value of $1,106,947.20, with each share fetching an average price of $40.20. After the completion of the sale, the business insider now directly owns 343,835 shares of the corporation, which are worth $13,822,167. You can retrieve a copy of the filing that discussed the transaction from the website maintained by the Securities and Exchange Commission (SEC). Recently, several equity analysts have published research on Dell’s stock that they have conducted. In a report on the company’s stock posted on Friday, August 26, Credit Suisse Group reaffirmed their “buy” rating on Dell Technologies’ stock and set a price objective of $60.00. The research on the company’s stock was posted on the company’s website. Wells Fargo & Company lowered their price target for Dell Technologies in a research report published on Friday, August 26. The new price target is $58.00, down from $65.00. The price target that Evercore ISI has set for Dell Technologies has been decreased.
On Friday, Dell Technologies’ standard stock trading started at $37.96 a share. The 50-day simple moving average for the company is $43.32, and the 200-day simple moving average is $46.56. On the stock market, Dell Technologies has had its share price go as low as $36.74 and as high as $61.54 over the past 52 weeks. The firm’s market capitalization is currently sitting at $27.82 billion, while its PE ratio is 5.49, its P/E/G is 0.54, and its beta is 0.74. The most recent quarterly earnings report for Dell Technologies (NYSE: DELL) was released on Thursday, August 25.
The information technology firm announced earnings of $1.68 per share for the quarter, which was $0.04 more than the average analyst projection of $1.64 per share for the period. The final tally for the company’s sales for the period was $26.43 billion, which was $0.02 less than the $27 billion that was the average forecast for the period. It was reported that Dell Technologies had a return on equity of 305.10% and a net margin of 4.98%.