Dell CEO Buys $100 Million of Stock - TheStreet

Dell CEO Buys $100 Million of Stock

Michael Dell loaded up on more shares last week.
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SAN FRANCISCO --

Dell

(DELL) - Get Report

founder and CEO Michael Dell snapped up $100 million of his firm's common stock last week.

According to a regulatory filing released after Monday's close of market, Dell purchased 3.5 million shares of common stock at $20.42 last Thursday and an additional 1.37 million at $20.67 a day later.

Shares of Dell are down roughly 19% since the company reported its second-quarter earnings,

badly missing Wall Street's profit estimates

two weeks ago.

The disappointing financial results raised concerns that Michael Dell's plan to revive the PC maker's fortunes have hit a wall. Dell returned as CEO in January 2007, after the company fell on hard times and lost its spot as the world's No. 1 PC maker to rival

Hewlett-Packard

(HPQ) - Get Report

.

As of July, Michael Dell had a 12.4% stake in Dell, making him the largest individual or institutional shareholder.

Dell's stock was up 2% or 41 cents at $20.58 in extended trading Monday.