The general counsel and corporate secretary of Western Digital Corp. sold $417,338 worth of common stock in a transaction executed under a prearranged trading plan. Cynthia L. Tregillis disposed of 919 shares between August 21 and 24 at prices ranging from $446.17 to $477.27 per share.
The trades were conducted under a Rule 10b5-1 plan adopted on March 6, 2026. Separately, Tregillis alienated 1,488 shares to cover tax obligations from vested securities, totaling $687,288 at prices between $459.44 and $469.05 per share. An additional 14 shares were acquired at no cost through the conversion of dividend equivalent rights related to restricted stock unit vesting.
Western Digital's shares have declined 12.25% over the past week, though the stock remains up 451% year-over-year. The company reported adjusted earnings per share of $3.56 in the fiscal fourth quarter, exceeding Wall Street estimates of $3.29, with revenue of $3.75 billion against expectations of $3.69 billion.
Analysts have adjusted price targets following the earnings release. UBS lowered its target to $525 from $560 while maintaining a Neutral rating, citing slower shipment growth compared with competitor Seagate Technology. Baird raised its target to $630, highlighting advances in storage technology and the upcoming 44TB heat-assisted magnetic recording drive. Summit Insights downgraded the stock to Hold from Buy, citing risks tied to the transition to heat-assisted magnetic recording technology. Evercore noted that Seagate outperformed Western Digital in exabyte shipment growth, particularly in the nearline segment.
