Skip to main content
Publish date:

Dell CEO Buys $100 Million of Stock

Michael Dell loaded up on more shares last week.

SAN FRANCISCO --

Dell

(DELL) - Get Dell Technologies Inc Class C 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

TheStreet Recommends

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 HP Inc. (HPQ) 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.