Cynthia L. Tregillis, chief legal officer and corporate secretary of Western Digital Corp. (NASDAQ: WDC), sold 919 shares of common stock for $417,338 between August 21 and August 24, 2026, according to regulatory filings. The transactions were executed under a Rule 10b5-1 trading plan adopted on March 6, 2026, with share prices ranging from $446.17 to $477.27.
In a separate transaction, Tregillis disposed of 1,488 shares to cover tax obligations related to the vesting of securities, totaling $687,288 at prices between $459.44 and $469.05. Additionally, she acquired 14 shares at $0.00 per share through the conversion of dividend equivalent rights tied to restricted stock units.
Western Digital's stock has declined 12.25% over the past week, though shares remain up 451% year-over-year. The recent pullback follows a fiscal fourth-quarter report that exceeded expectations: adjusted earnings per share reached $3.56, surpassing the $3.29 forecast, while revenue totaled $3.75 billion against an anticipated $3.69 billion.
Analysts have adjusted price targets following the results. UBS reduced its target to $525 from $560, maintaining a Neutral rating due to slowing shipments relative to Seagate Technology. Baird raised its target to $630, citing advancements in drive technology, including the upcoming 44TB heat-assisted magnetic recording (HAMR) drive. Summit Insights downgraded Western Digital to Hold, citing risks associated with the transition to HAMR technology. Evercore noted that Seagate outpaced Western Digital in exabyte shipment growth, particularly in the nearline segment.
