K2 Principal Fund L.P. lessened its holdings in shares of Dell Technologies Inc (NYSE:DVMT) by 52.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 135,000 shares of the company’s stock after selling 150,000 shares during the quarter. Dell Technologies makes up 0.9% of K2 Principal Fund L.P.’s portfolio, making the stock its 17th biggest position. K2 Principal Fund L.P.’s holdings in Dell Technologies were worth $11,418,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Dell Technologies by 0.6% in the 1st quarter. BlackRock Inc. now owns 13,345,023 shares of the company’s stock valued at $976,989,000 after purchasing an additional 80,209 shares during the period. FMR LLC raised its stake in shares of Dell Technologies by 5.3% in the 2nd quarter. FMR LLC now owns 7,178,790 shares of the company’s stock valued at $607,182,000 after purchasing an additional 361,901 shares during the period. Farallon Capital Management LLC raised its stake in shares of Dell Technologies by 49.4% in the 1st quarter. Farallon Capital Management LLC now owns 7,027,500 shares of the company’s stock valued at $514,483,000 after purchasing an additional 2,324,060 shares during the period. Renaissance Technologies LLC raised its stake in shares of Dell Technologies by 16.7% in the 2nd quarter. Renaissance Technologies LLC now owns 5,549,700 shares of the company’s stock valued at $469,394,000 after purchasing an additional 794,800 shares during the period. Finally, FIL Ltd raised its stake in shares of Dell Technologies by 92.5% in the 1st quarter. FIL Ltd now owns 4,200,320 shares of the company’s stock valued at $307,505,000 after purchasing an additional 2,017,944 shares during the period. 23.34% of the stock is currently owned by institutional investors and hedge funds.
NYSE:DVMT opened at $95.69 on Thursday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.87 and a current ratio of 0.93. The stock has a market capitalization of $73.99 billion, a P/E ratio of 15.51 and a beta of -0.15. Dell Technologies Inc has a 52-week low of $64.96 and a 52-week high of $97.10.
Dell Technologies (NYSE:DVMT) last released its earnings results on Monday, June 4th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. The business had revenue of $21.36 billion for the quarter. Dell Technologies had a positive return on equity of 27.01% and a negative net margin of 3.69%.
Several research firms have issued reports on DVMT. ValuEngine raised Dell Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Zacks Investment Research raised Dell Technologies from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Wednesday, July 4th. Wells Fargo & Co reissued an “outperform” rating and issued a $105.00 price target on shares of Dell Technologies in a research note on Tuesday, July 3rd. Finally, Deutsche Bank lifted their price target on Dell Technologies from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, June 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Dell Technologies presently has a consensus rating of “Buy” and a consensus price target of $108.50.
About Dell Technologies
Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) products and services worldwide. It operates through three segments: Client Solutions Group (CSG), Infrastructure Solutions Group (ISG), and VMware. The CSG segment offers hardware, such as desktop personal computers, notebooks, and workstations; and branded peripherals, including monitors and projectors; third-party software and peripherals; and attached software, peripherals, and services comprising support and deployment, configuration, and extended warranty services.
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