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Jabran Kundi

CFO David Kennedy Just Cut His Dell Stock Stake by Nearly 10%. Is That a Sign You Should Sell Too?

Dell David Kennedy Stock Dell Technologies Nvidia ISG

Dell (DELL) stock is up 66% so far this year and has just encountered an unlikely profit taker: its own Chief Financial Officer. David Kennedy sold 19,500 shares of the company at a weighted average price of $182.53 on April 9. This amounts to approximately 10% of his stake in the company. Even though the stock has gained another 12% since then, the sale has left everyone wondering if it's time to jump ship.  

The news comes amid some controversy regarding a possible buyout. There were rumors in the market that Nvidia (NVDA), with its huge cash pile, was planning to take over an unknown company. Dell was touted as the likely candidate because acquiring it would allow Nvidia to own the entire stack from GPUs and CPUs to finished servers and PC hardware. Nvidia denied these rumors, but the stock has been climbing ever since.

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