Dell Joins S&P 100, While Largest Outside Shareholder Continues Selling
Dell Technologies (DELL) joined the S&P 100 index on September 21, 2026. This inclusion required all funds tracking the index to purchase shares at a near-record price of $568.06 as of September 18. Despite this institutional buying pressure, Silver Lake — Dell’s largest outside shareholder and board member since its 2013 buyout — has been selling stock throughout mid-September, much of it above $540. The market is mixed in sentiment: index-driven buyers are indifferent to price, while insiders like Silver Lake appear content with trimming a long-held position during strong performance. Analysts remain cautiously optimistic; RBC and JPMorgan have set high targets at $640 and $635 respectively by 2031, but the average street target is closer to current levels ($577), suggesting limited upside. Dell’s CFO highlighted storage as a key margin driver amid rising server memory costs. Storage revenue grew 26% in Q3 with double-digit growth expected for the year. However, concerns remain about how long Dell can maintain pricing power and margins if component inflation persists.
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Topics: Dell Technologies S&P 100 Silver Lake selling activity stock price analysis