Shorepath Capital Management LLC Boosts Holdings in Dell Technologies Inc. (NYSE:DELL)

Shorepath Capital Management LLC grew its holdings in Dell Technologies Inc. (NYSE:DELL) by 3.7% in the 1st quarter, HoldingsChannel reports. The firm owned 67,848 shares of the technology company’s stock after purchasing an additional 2,415 shares during the quarter. Dell Technologies makes up 4.7% of Shorepath Capital Management LLC’s holdings, making the stock its 11th biggest holding. Shorepath Capital Management LLC’s holdings in Dell Technologies were worth $6,184,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in DELL. Norges Bank acquired a new stake in Dell Technologies in the fourth quarter valued at approximately $455,029,000. Vanguard Group Inc. raised its holdings in Dell Technologies by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after purchasing an additional 2,662,407 shares in the last quarter. Michael & Susan Dell Foundation acquired a new stake in Dell Technologies during the fourth quarter worth approximately $265,052,000. Janus Henderson Group PLC raised its holdings in Dell Technologies by 160.5% during the fourth quarter. Janus Henderson Group PLC now owns 3,027,066 shares of the technology company’s stock worth $348,814,000 after purchasing an additional 1,865,013 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Dell Technologies by 63.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,931,240 shares of the technology company’s stock worth $337,796,000 after purchasing an additional 1,139,318 shares in the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.

Dell Technologies Stock Performance

Shares of NYSE:DELL opened at $113.77 on Monday. Dell Technologies Inc. has a 1 year low of $66.25 and a 1 year high of $161.52. The stock has a market capitalization of $79.39 billion, a P/E ratio of 20.10, a PEG ratio of 1.10 and a beta of 1.01. The stock has a 50-day simple moving average of $96.79 and a 200-day simple moving average of $106.07.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Thursday, May 29th. The technology company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.13). The company had revenue of $23.38 billion during the quarter, compared to analysts’ expectations of $23.17 billion. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 EPS. Analysts predict that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

DELL has been the topic of a number of research reports. UBS Group lowered their target price on shares of Dell Technologies from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company decreased their target price on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. TD Cowen boosted their target price on shares of Dell Technologies from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Evercore ISI reaffirmed an “outperform” rating on shares of Dell Technologies in a research note on Thursday, May 29th. Finally, Raymond James boosted their target price on shares of Dell Technologies from $144.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Dell Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $138.00.

Insider Buying and Selling at Dell Technologies

In related news, CAO Brunilda Rios sold 926 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $93.29, for a total transaction of $86,386.54. Following the sale, the chief accounting officer now directly owns 37,948 shares of the company’s stock, valued at approximately $3,540,168.92. This represents a 2.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Yvonne Mcgill sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $110.80, for a total value of $886,400.00. Following the sale, the chief financial officer now directly owns 245,804 shares in the company, valued at approximately $27,235,083.20. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,091 shares of company stock valued at $8,608,142 in the last three months. Corporate insiders own 42.00% 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).