In recent months, there has been a notable rise in insider trading among prominent CEOs, such as Mark Zuckerberg, Jeff Bezos, and Alex Karp. The latest addition to this trend is Michael Dell, the CEO of Dell (NYSE: DELL).
Specifically, on March 18, Michael Dell sold 1,348,767 shares of DELL stock at an average price of $105.83, resulting in a profit of $145,291,094.
Adding to his previous sales earlier this month, which totaled $246 million and $76 million respectively, Dell has sold over $500 million worth of DELL shares in this month alone.
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Another notable insider is a believer in Dell stock
Senator Thomas Carper, recognized for his skepticism about the US economy, revealed a purchase of Dell stock on January 2. The purchase amount fell between $1,000 and $15,000, at $74.79 per share. Since then, DELL shares have surged over 50%, reaching a current price of $112.24.
It’s yet to be determined whose trade will prove more accurate between Dell and Carper. Considering Dell likely bought his shares at a lower price and is likely selling for profit-taking, the outcome remains uncertain.
DELL stock is sold by other insiders from the company
While CEO Dell stands out as the most prominent seller, with over $500 million worth of Dell shares sold, other insiders have also been active.
For instance, the president of Global Sales, Will Scannell, sold over $1 million in shares. Additionally, the Head of Human Resources, Head of Marketing, COO, CFO, Chief Accounting Officer, and General Counsel all sold shares amounting to $600,000 each, according to stock trade researcher Special Situations.
Investors may be growing concerned about the future of DELL stock. However, given its recent performance, these sales appear to be driven by profit-taking.
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