Michael Dell picked up 7,370,000 more shares on Friday, says SEC filing
Michael Dell, the founder and CEO of Dell, bought $100 mn more shares in his company last week, it has been revealed.
The share purchase was recorded in an SEC filing released on Monday.
Dell bought 7,370,000 shares at an average price of $13.57 on Friday, according to the filing, which amounts to just over $100 mn in value.
Including the recently purchased shares, Dell’s CEO now directly holds 232,912,682 shares in the company, a holding worth around $3.2 bn.
The Dell founder argued last month that his company’s shares are undervalued but that has not stopped the stock price falling.
Dell’s shares have lost around 8 percent in value during 2010, including a 2 percent fall this Monday on the day the share purchase was revealed.
The company posted strong results in November for its third quarter but some investors fear it is overexposed to the low-growth PC market.
