Dell Top Executives Sell $32 Million in Stock as AI Rally Accelerates -- Barrons.com

By Mackenzie Tatananni

Dell Technologies has faced a wave of insider selling as top executives, including its chief financial officer and general counsel, execute multimillion-dollar trades on the open market.

Recent filings with the Securities and Exchange Commission show two top executives sold more than $15 million in company stock combined on Sept. 17. Chief Financial Officer David Kennedy unloaded 23,896 shares for around $13.5 million, at prices ranging from $584.73 to $586.08 apiece, while General Counsel Richard Rothberg shed 4,000 shares for $2.3 million, or $583.36 each.

Insider sales have been occurring since the start of the month. On Sept. 4, Chief Human Resources Officer Jennifer Saavedra sold 25,251 shares at $520 each, amounting to $13.1 million. Chief Marketing Officer Geraldine Tunnell sold 5,436 shares at $523.52 apiece, or $2.8 million, the same day.

Dell didn't immediately respond to a request for comment from Barron's regarding the sales.

Together, the four executives sold roughly $31.7 million in company stock this month. These transactions account for less than 1% of Dell's more than 315 million shares outstanding.

Dell stock has surged more than 17% since the beginning of the month, outpacing both the Nasdaq 100 and the S&P 500. The indexes-both of which count Dell as a constituent-have gained 3.5% and 0.4%, respectively, in that span.

Since its founding in 1984, Dell has evolved from a scrappy personal-computer maker to a notable beneficiary of the artificial-intelligence boom as a major infrastructure provider.

Earnings on Sept. 2 provided the latest evidence of the company's momentum, as revenue attributed to its AI server business doubled from the previous year. Dell's backlog, a measure of orders that have yet to be converted to revenue, swelled to $95 billion from $51.3 billion.

Barron's named Dell as a stock pick in late May, reiterating a recommendation from October 2025. Shares have gained roughly 27% since the latest call.

Inside Scoop is a regular Barron's feature covering stock transactions by corporate executives and board members-so-called insiders-as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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September 24, 2026 16:59 ET (20:59 GMT)