Dell slides as investors digest blowout AI quarter and new large-shareholder sales

Dell Technologies (DELL) is down 4.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears driven by post-earnings profit-taking combined with fresh selling pressure after large shareholder Silver Lake-affiliated entities disclosed additional stock sales and distributions. With the stock up sharply into Dell’s AI-server-driven results, investors may be interpreting the new insider/holder activity as a near-term supply overhang.

Details:

Dell’s May 28, 2026 earnings release (furnished via an 8-K) highlighted record fiscal Q1 2027 revenue of $43.8B and record non-GAAP EPS of $4.86, underscoring how much expectations had risen after the AI rally.

In the same release, Dell said it booked $24.4B in AI orders, recognized $16.1B of AI server revenue in the quarter, and increased its FY27 AI-optimized servers revenue expectation to roughly $60B—numbers that can raise “beat-and-raise” bars going forward.

Silver Lake-affiliated funds disclosed sales of Dell Class C shares on June 1, 2026 and initiated in-kind distributions of shares, as shown in recent SEC Form 4 filings, which can weigh on shares as the market absorbs potential additional supply.

Separately, Dell-related SEC Form 144 filings around early June signaled intent to sell shares, adding to concerns about near-term selling pressure.

Sources:

U.S. Securities and Exchange Commission, Dell Technologies Investor Relations, Fintel

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$DELL Insider Trading Activity

$DELL insiders have traded $DELL stock on the open market 664 times in the past 6 months. Of those trades, 0 have been purchases and 664 have been sales.

Here’s a breakdown of recent trading of $DELL stock by insiders over the last 6 months:

IV (GP), L.L.C. SLTA has made 0 purchases and 168 sales selling 3,102,508 shares for an estimated $500,440,405.
V (GP), L.L.C. SLTA has made 0 purchases and 168 sales selling 3,102,508 shares for an estimated $500,440,405.
LAKE PARTNERS IV, L.P. SILVER has made 0 purchases and 63 sales selling 470,411 shares for an estimated $211,057,306.
SPV-2, L.P. SL has made 0 purchases and 63 sales selling 436,219 shares for an estimated $195,714,439.
LAKE PARTNERS V DE (AIV), L.P. SILVER has made 0 purchases and 63 sales selling 197,438 shares for an estimated $88,582,481.
WILLIAM F SCANNELL (Chief Customer Officer) sold 143,067 shares for an estimated $23,606,055
ELLEN JAMISON KULLMAN has made 0 purchases and 4 sales selling 150,346 shares for an estimated $21,820,312.
JEFFREY W CLARKE (COO & Vice Chairman) sold 116,000 shares for an estimated $21,167,680
EGON DURBAN sold 71,000 shares for an estimated $9,806,520
JANE TUNNELL (Chief Marketing Officer) sold 28,529 shares for an estimated $4,350,957
DAVID ALAN KENNEDY (Chief Financial Officer) sold 19,500 shares for an estimated $3,559,335
LAKE TECHNOLOGY INVESTORS IV, L.P. SILVER has made 0 purchases and 63 sales selling 7,540 shares for an estimated $3,382,897.
LAKE TECHNOLOGY INVESTORS V, L.P. SILVER has made 0 purchases and 63 sales selling 3,402 shares for an estimated $1,526,339.
JENNIFER D. SAAVEDRA (Chief Human Resources Officer) sold 10,200 shares for an estimated $1,479,000
RICHARD TROY SHARP (Chief Accounting Officer) has made 0 purchases and 3 sales selling 2,838 shares for an estimated $799,524.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$DELL Hedge Fund Activity

We have seen 826 institutional investors add shares of $DELL stock to their portfolio, and 785 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JANE STREET GROUP, LLC added 5,292,113 shares (+654.4%) to their portfolio in Q1 2026, for an estimated $868,594,506
MORGAN STANLEY removed 5,235,786 shares (-44.1%) from their portfolio in Q1 2026, for an estimated $859,349,556
GOLDMAN SACHS GROUP INC added 2,668,464 shares (+67.7%) to their portfolio in Q1 2026, for an estimated $437,974,996
INVESCO LTD. added 2,445,854 shares (+50.4%) to their portfolio in Q4 2025, for an estimated $307,884,101
DEUTSCHE BANK AG\ removed 2,342,181 shares (-42.5%) from their portfolio in Q1 2026, for an estimated $384,422,167
JPMORGAN CHASE & CO removed 2,223,692 shares (-51.2%) from their portfolio in Q4 2025, for an estimated $279,918,348
WELLINGTON MANAGEMENT GROUP LLP removed 1,663,571 shares (-61.2%) from their portfolio in Q1 2026, for an estimated $273,041,908

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$DELL Congressional Stock Trading

Members of Congress have traded $DELL stock 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $DELL stock by members of Congress over the last 6 months:

SENATOR MARKWAYNE MULLIN has traded it 3 times. They made 0 purchases and 3 sales worth up to $150,000 on 02/04, 12/18.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$DELL Analyst Ratings

Wall Street analysts have issued reports on $DELL in the last several months. We have seen 2 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

Morgan Stanley issued a "Underweight" rating on 01/20/2026
Citigroup issued a "Buy" rating on 01/20/2026
Barclays issued a "Overweight" rating on 01/15/2026

To track analyst ratings and price targets for $DELL, check out Quiver Quantitative's $DELL forecast page.

$DELL Price Targets

Multiple analysts have issued price targets for $DELL recently. We have seen 15 analysts offer price targets for $DELL in the last 6 months, with a median target of $500.0.

Here are some recent targets:

Vijay Rakesh from Mizuho set a target price of $500.0 on 06/01/2026
Mark Newman from Bernstein set a target price of $500.0 on 06/01/2026
Erik Woodring from Morgan Stanley set a target price of $448.0 on 06/01/2026
Katherine Murphy from Goldman Sachs set a target price of $500.0 on 06/01/2026
Tim Long from Barclays set a target price of $550.0 on 05/29/2026
Samik Chatterjee from JP Morgan set a target price of $500.0 on 05/29/2026
Matthew Niknam from Truist Securities set a target price of $360.0 on 05/29/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.