NEW YORK, March 3, 2026, 11:47 AM ET — Regular session underway.
- Seagate shares slid roughly 5% as the wider market moved lower.
- CEO Dave Mosley has signaled plans to sell 20,000 shares, a Form 144 filing shows, and the document also notes two earlier sales under a 10b5-1 plan.
- Seagate’s comments at the Morgan Stanley conference Tuesday have investors watching closely for any new signs of demand.
Seagate Technology Holdings plc shares dropped 5.2% Tuesday, closing at $359.96. The stock earlier hit a session low of $350.15.
Investors often see the storage maker as a pure bet on data-center expansion, which means the stock gets hit fast when risk appetite fades. If the name’s crowded, even a minor spark can send it moving.
Wall Street felt the heat Tuesday, with the key U.S. indexes sliding over 2% as oil surged and traders braced for the inflation fallout from escalating tensions in the Middle East. “Investors worry about additional inflation coming down the road,” said Robert Pavlik, senior portfolio manager at Dakota Wealth. Reuters
Seagate CEO Dave Mosley—appearing as William Mosley in the Form 144 filed after Monday’s close—has put up 20,000 shares for sale via Morgan Stanley Smith Barney, a stake valued at roughly $8.2 million at the market price cited in the filing. The document also flagged two previous 20,000-share sales, both arranged under a Rule 10b5-1 plan, executed on Jan. 2 and Feb. 2. Those trades brought in about $5.7 million and $8.6 million, respectively.
A Form 144 serves as a notice for specific insider sales under SEC Rule 144—it doesn’t guarantee the trade actually happened. A 10b5-1 plan, on the other hand, offers insiders a way to sell shares according to a predetermined schedule.
Seagate wasn’t alone in the drop. Western Digital tumbled 6.1%, while NetApp gave up 2.6% that session, as data infrastructure stocks took a hit across the board with the wider market.
Seagate bumped up its forecast in late January, following a quarterly report that beat expectations. The company cited surging demand for mass-capacity storage as clients expand artificial intelligence operations. “Modern data centers increasingly need storage that combines performance and cost-efficiency at exabyte-scale,” Mosley said back then. Reuters
That works both ways. Oil-fueled inflation keeps yields up and risk-taking down, and those high-flying momentum bets? They can come apart quickly.
Seagate faces a straightforward risk. If cloud spending wavers—or if supply or pricing slips—those high-flying expectations could quickly get knocked down.
Seagate is scheduled to present at the Morgan Stanley Technology, Media & Telecom Conference later Tuesday, with the company’s events page listing a 10:45 a.m. PT (1:45 p.m. ET) slot.
