Silver Lake Affiliates File Intent to Sell Additional Dell Shares Amid Ongoing Distribution
DELL has more than doubled off its 52-week low of $110.22.
Summary
Silver Lake affiliates filed a Form 144 to sell a small number of Dell shares, while also disclosing over $1.35 billion in sales over the past three months, continuing a pattern of significant distribution by the institutional investor.
Key Events · Ownership and Investor Activity · DELL
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Proposed Sale by Silver Lake Affiliates
Silver Lake Management Company III, L.L.C. and its affiliates filed a Form 144 indicating intent to sell 894 shares of Dell Class C Common Stock, valued at approximately $366,048.
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Over $1.35 Billion in Recent Sales
The filing also reports that Silver Lake affiliates have sold 3,706,631 shares for gross proceeds of over $1.35 billion in the past three months, continuing a pattern of significant distribution by the institutional investor.
Analysis · DELL · Technology
This Form 144 filing indicates Silver Lake Management Company III, L.L.C. and its affiliates intend to sell a small number of additional Dell shares. More significantly, the filing updates the market on the substantial ongoing distribution by these institutional investors, reporting over $1.35 billion in sales of Dell Class C Common Stock in the past three months. This continues a pattern of significant insider selling by Silver Lake, a major shareholder with board representation, providing a counter-signal to the company's recent strong financial performance and outlook.
At the time of this filing, DELL was trading at $398.29 on NYSE in the Technology sector, with a market capitalization of approximately $259B. The 52-week trading range was $110.22 to $469.47. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.