Wells Fargo & Company Has Lowered Expectations for Dell Technologies (NYSE:DELL) Stock Price

Dell Technologies (NYSE:DELL) had its price target dropped by analysts at Wells Fargo & Company from $160.00 to $150.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 45.85% from the stock’s previous close.

Several other equities research analysts also recently weighed in on DELL. Evercore ISI reissued an “outperform” rating and issued a $150.00 price target on shares of Dell Technologies in a report on Wednesday, November 20th. Morgan Stanley lowered their price target on Dell Technologies from $154.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price target on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Mizuho lowered their price target on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Finally, Bank of America lowered their price target on Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $143.53.

Dell Technologies Price Performance

Shares of DELL stock opened at $102.85 on Friday. Dell Technologies has a 1-year low of $86.93 and a 1-year high of $179.70. The stock’s 50-day moving average is $112.57 and its 200 day moving average is $118.30. The company has a market cap of $72.04 billion, a P/E ratio of 18.17, a PEG ratio of 1.10 and a beta of 0.90.

Insider Activity at Dell Technologies

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $120.00, for a total value of $87,000.00. Following the completion of the sale, the director now directly owns 23,680 shares in the company, valued at $2,841,600. The trade was a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Yvonne Mcgill sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $125.82, for a total value of $1,006,560.00. Following the completion of the sale, the chief financial officer now owns 228,419 shares of the company’s stock, valued at $28,739,678.58. This trade represents a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 937,407 shares of company stock worth $114,418,186. 46.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Optimist Retirement Group LLC grew its holdings in shares of Dell Technologies by 27.3% during the third quarter. Optimist Retirement Group LLC now owns 2,157 shares of the technology company’s stock worth $256,000 after buying an additional 463 shares in the last quarter. abrdn plc lifted its stake in shares of Dell Technologies by 1,474.6% in the third quarter. abrdn plc now owns 104,630 shares of the technology company’s stock worth $12,360,000 after buying an additional 97,985 shares in the last quarter. Diversify Advisory Services LLC lifted its stake in shares of Dell Technologies by 24.9% in the third quarter. Diversify Advisory Services LLC now owns 3,428 shares of the technology company’s stock worth $413,000 after buying an additional 684 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Dell Technologies in the third quarter worth about $29,033,000. Finally, First Trust Direct Indexing L.P. lifted its stake in shares of Dell Technologies by 41.5% in the third quarter. First Trust Direct Indexing L.P. now owns 4,698 shares of the technology company’s stock worth $557,000 after buying an additional 1,379 shares in the last quarter. 76.37% of the stock is owned by institutional investors and hedge funds.

Dell Technologies Company Profile

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).