Dell Stock Drops 6% After Director’s $9.8M Share Sale Amid Tech Sector Rotation
Dell Technologies shares fell sharply after board member Egon Durban sold 71,000 shares worth $9.8 million. The sale, disclosed in SEC filings, contributed to a 6.1% decline in Dell's stock price, closing at $130.10.
Insider selling at Dell has reached concerning levels, with TipRanks' Insider Trading Activity Tool showing 'Very Negative' confidence based on recent transactions. The MOVE coincides with a broader pullback in AI-related tech stocks following disappointing earnings from Oracle and Broadcom.
Despite the sell-off, Dell remains up 15% year-to-date, buoyed by demand for AI-optimized servers. Analysts maintain a Moderate Buy rating with a $168 price target, suggesting 29% upside potential.