Matthew E. Massengill, a director at Western Digital Corp (NASDAQ: WDC), completed the sale of 39,513 common shares on February 5, 2026, a Form 4 filed with the Securities and Exchange Commission shows. The disposals were carried out at prices ranging from $256.6312 to $268.055, producing gross proceeds of $9,616,465.
The stock sold in these transactions was transferred indirectly through a family trust. Post-transaction holdings reported for Massengill include 28,897 shares held directly, 500 shares in an IRA, and 1,316 shares indirectly held by the family trust.
Company filings show the trades were executed under a pre-arranged Rule 10b5-1 trading plan that Massengill adopted on November 6, 2025. The use of a scheduled 10b5-1 arrangement indicates the sales were pre-authorized under the plan's parameters.
Analyst activity and corporate updates
Western Digital has drawn notable analyst attention and product announcements in the same period. Cantor Fitzgerald raised its price target for Western Digital to $420 while maintaining an Overweight rating after the company’s Innovation Day presentation that covered technical progress and financial modeling. Morgan Stanley raised its target to $369, pointing to demand for AI-focused storage as an important driver. Goldman Sachs set a target of $250, citing developments with HAMR technology. Separately, Evercore ISI reiterated an Outperform rating with a $310 price target following the company’s announcement of a $4 billion share buyback program.
On the product side, Western Digital set out a storage roadmap that includes a 40TB UltraSMR ePMR hard drive and plans that envision 100TB-plus HDDs by 2029. The company said it is pursuing dual technology approaches, with ePMR drives scaling toward 60TB while HAMR technology advances in parallel.
Western Digital also reaffirmed its expectation that global data volumes will grow by more than 25% annually over the next five years, attributing that expansion to AI and other emerging technologies. The company and multiple analysts highlighted AI storage demand as an important market force in the near to medium term.
Context for investors
The director sale is a discrete, documented transaction carried out under a pre-existing trading plan. Concurrent corporate communications - product roadmaps, buyback announcements, and analyst target revisions - provide the broader context in which investors may place this insider activity.