Dell Technologies Inc. (DVMT) Position Reduced by K2 Principal Fund L.P.
K2 Principal Fund L.P. lessened its holdings in Dell Technologies Inc. (NYSE:DVMT) by 64.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,064 shares of the company’s stock after selling 103,288 shares during the quarter. K2 Principal Fund L.P.’s holdings in Dell Technologies were worth $4,406,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Cheyne Capital Management UK LLP purchased a new position in shares of Dell Technologies during the third quarter worth about $2,186,000. State of Wisconsin Investment Board grew its holdings in shares of Dell Technologies by 70.6% during the third quarter. State of Wisconsin Investment Board now owns 1,298,767 shares of the company’s stock worth $100,278,000 after purchasing an additional 537,367 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Dell Technologies by 7.0% during the third quarter. Bank of New York Mellon Corp now owns 768,832 shares of the company’s stock worth $59,361,000 after purchasing an additional 50,504 shares during the last quarter. P Schoenfeld Asset Management LP grew its holdings in shares of Dell Technologies by 14.2% during the third quarter. P Schoenfeld Asset Management LP now owns 462,975 shares of the company’s stock worth $35,746,000 after purchasing an additional 57,400 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Dell Technologies by 2.5% during the third quarter. New York State Common Retirement Fund now owns 459,297 shares of the company’s stock worth $35,462,000 after purchasing an additional 11,400 shares during the last quarter. 23.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Dell Technologies Inc. (DVMT) traded down $1.44 during mid-day trading on Friday, hitting $80.79. The company’s stock had a trading volume of 1,481,700 shares, compared to its average volume of 1,336,096. The stock has a market capitalization of $62,432.33, a price-to-earnings ratio of 12.80 and a beta of 0.60. Dell Technologies Inc. has a 12 month low of $51.02 and a 12 month high of $83.98. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.70 and a current ratio of 0.76.
Dell Technologies (NYSE:DVMT) last issued its quarterly earnings data on Thursday, September 7th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.79. The company had revenue of $19.30 billion for the quarter. Dell Technologies had a positive return on equity of 19.45% and a negative net margin of 6.24%.
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Separately, BidaskClub raised Dell Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 2nd.
In other news, CEO Michael S. Dell acquired 13,058 shares of the company’s stock in a transaction on Monday, August 28th. The shares were bought at an average price of $25.03 per share, with a total value of $326,841.74. Following the completion of the acquisition, the chief executive officer now owns 418,031 shares in the company, valued at approximately $10,463,315.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David I. Goulden sold 72,727 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $32.70, for a total value of $2,378,172.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 517,809 shares of company stock worth $50,749,496. Corporate insiders own 45.00% of the company’s stock.
Dell Technologies Profile
Dell Technologies Inc, formerly Denali Holding Inc, is a provider of information technology solutions. The Company operates through two segments: Client Solutions and Enterprise Solutions Group (ESG). The Client Solutions segment includes sales to commercial and consumer customers of desktops, thin client products and notebooks, as well as services and third-party software and peripherals closely tied to the sale of Client Solutions hardware.
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