Wells Fargo & Company Lowers Dell Technologies (NYSE:DELL) Price Target to $150.00

Dell Technologies (NYSE:DELL) had its price objective decreased by equities research analysts at Wells Fargo & Company from $160.00 to $150.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 48.52% from the company’s current price.

Several other analysts have also issued reports on DELL. Barclays increased their target price on Dell Technologies from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. TD Cowen decreased their target price on shares of Dell Technologies from $128.00 to $120.00 and set a “hold” rating on the stock in a report on Friday. OTR Global raised shares of Dell Technologies from a “negative” rating to a “positive” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price objective on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Finally, Morgan Stanley cut their target price on Dell Technologies from $154.00 to $128.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.94.

Dell Technologies Stock Performance

NYSE:DELL traded down $6.83 during mid-day trading on Friday, reaching $101.00. 14,524,384 shares of the company’s stock were exchanged, compared to its average volume of 8,574,836. Dell Technologies has a one year low of $86.93 and a one year high of $179.70. The business’s fifty day simple moving average is $112.83 and its two-hundred day simple moving average is $118.12. The firm has a market capitalization of $70.74 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.32. The business had revenue of $24.37 billion during the quarter, compared to analysts’ expectations of $24.67 billion. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 earnings per share. As a group, equities research analysts forecast that Dell Technologies will post 6.93 EPS for the current year.

Insiders Place Their Bets

In other Dell Technologies news, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $120.00, for a total transaction of $87,000.00. Following the sale, the director now owns 23,680 shares of the company’s stock, valued at approximately $2,841,600. This represents a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of Dell Technologies stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total value of $59,750,657.85. Following the completion of the transaction, the director now directly owns 810,657 shares of the company’s stock, valued at approximately $97,059,962.61. This trade represents a 38.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 937,407 shares of company stock valued at $114,418,186. 46.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dell Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Dell Technologies by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after buying an additional 2,662,407 shares in the last quarter. State Street Corp boosted its stake in Dell Technologies by 92.4% during the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock worth $1,513,401,000 after acquiring an additional 6,131,507 shares in the last quarter. Capital World Investors grew its holdings in Dell Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 12,460,949 shares of the technology company’s stock worth $1,436,000,000 after purchasing an additional 72,271 shares during the period. Geode Capital Management LLC increased its stake in Dell Technologies by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 6,870,042 shares of the technology company’s stock valued at $789,680,000 after purchasing an additional 552,213 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Dell Technologies during the fourth quarter valued at about $455,029,000. Institutional investors own 76.37% 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).