NEW YORK, March 3, 2026, 11:47 AM ET — Regular session.
- Seagate shares fall about 5% as the broader market sells off
- Form 144 filing flags a proposed 20,000-share sale by CEO Dave Mosley and lists two prior 10b5-1 sales
- Investors turn to Seagate’s Morgan Stanley conference talk later Tuesday for fresh demand signals
Shares of Seagate Technology Holdings plc fell 5.2% to $359.96 on Tuesday, after touching $350.15 at the session low.
The storage maker has been treated as a direct play on data-center buildouts, so it tends to move hard when investors yank risk. A small catalyst can do the job when the stock is crowded.
Tuesday’s drop also comes with Wall Street under strain. The main U.S. indexes were down more than 2% as oil prices jumped and investors weighed the inflation hit from a widening Middle East conflict. “Investors worry about additional inflation coming down the road,” Robert Pavlik, senior portfolio manager at Dakota Wealth, said. 1
A Form 144 filing after Monday’s close showed Seagate CEO Dave Mosley (listed as William Mosley) proposed selling 20,000 shares — about $8.2 million by the filing’s market value — through Morgan Stanley Smith Barney. The notice also listed two earlier 20,000-share sales on Jan. 2 and Feb. 2 under a Rule 10b5-1 trading plan, with gross proceeds of about $5.7 million and $8.6 million. 2
A Form 144 is a notice tied to certain insider sales under SEC Rule 144; it is not, by itself, confirmation a trade was completed. A 10b5-1 plan is a pre-set trading program that can allow insiders to sell shares on a schedule.
The slide was not isolated to Seagate. Western Digital fell 6.1% and NetApp slipped 2.6% in the same session, as investors marked down data infrastructure names alongside the broader market.
Seagate last raised its outlook in late January after reporting results that topped estimates, pointing to strong demand for mass-capacity storage as customers scale up artificial intelligence systems. “Modern data centers increasingly need storage that combines performance and cost-efficiency at exabyte-scale,” Mosley said at the time. 3
That backdrop cuts both ways. If oil-driven inflation keeps yields elevated and risk appetite thin, richly valued momentum trades can unwind fast.
For Seagate, the downside scenario is simple: any hint of a pause in cloud spending, or a stumble in supply and pricing, would hit expectations that have been running hot.
Investors will get their next read later Tuesday when Seagate presents at the Morgan Stanley Technology, Media & Telecom Conference at 10:45 a.m. PT (1:45 p.m. ET), the company’s events page shows. 4
