TD Cowen Cuts Dell Technologies (NYSE:DELL) Price Target to $120.00

Dell Technologies (NYSE:DELL) had its price target decreased by equities research analysts at TD Cowen from $128.00 to $120.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the technology company’s stock. TD Cowen’s price target would indicate a potential upside of 16.68% from the company’s current price.

A number of other brokerages have also issued reports on DELL. OTR Global upgraded Dell Technologies from a “negative” rating to a “positive” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft reduced their target price on Dell Technologies from $144.00 to $142.00 and set a “buy” rating for the company in a report on Monday, December 2nd. Citigroup cut their price objective on Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Morgan Stanley decreased their target price on shares of Dell Technologies from $154.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Mizuho decreased their target price on shares of Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.53.

Dell Technologies Price Performance

NYSE:DELL opened at $102.85 on Friday. Dell Technologies has a 12-month low of $86.93 and a 12-month high of $179.70. The business has a 50 day simple moving average of $112.57 and a 200 day simple moving average of $118.30. The firm has a market capitalization of $72.04 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.10 and a beta of 0.90.

Insider Buying and Selling at Dell Technologies

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total value of $87,000.00. Following the transaction, the director now owns 23,680 shares of the company’s stock, valued at $2,841,600. This trade represents a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the completion of the transaction, the director now directly owns 810,657 shares in the company, valued at approximately $97,059,962.61. This represents a 38.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 937,407 shares of company stock worth $114,418,186 over the last ninety days. 46.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dell Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Optimist Retirement Group LLC increased its holdings in Dell Technologies by 27.3% in the 3rd quarter. Optimist Retirement Group LLC now owns 2,157 shares of the technology company’s stock valued at $256,000 after buying an additional 463 shares during the period. abrdn plc increased its holdings in Dell Technologies by 1,474.6% in the 3rd quarter. abrdn plc now owns 104,630 shares of the technology company’s stock valued at $12,360,000 after buying an additional 97,985 shares during the period. Diversify Advisory Services LLC increased its holdings in Dell Technologies by 24.9% in the 3rd quarter. Diversify Advisory Services LLC now owns 3,428 shares of the technology company’s stock valued at $413,000 after buying an additional 684 shares during the period. New York State Teachers Retirement System bought a new stake in Dell Technologies in the 3rd quarter valued at $29,033,000. Finally, First Trust Direct Indexing L.P. increased its holdings in Dell Technologies by 41.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,698 shares of the technology company’s stock valued at $557,000 after buying an additional 1,379 shares during the period. Institutional investors own 76.37% of the company’s stock.

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).