Western Digital Sees Insider Selling and Rising Short Interest

Published 8 hours agoWDC

Western Digital Sees Insider Selling and Rising Short Interest

Western Digital Corporation is witnessing significant insider selling activity amid growing investor caution. CEO David Goeckeler offloaded 75,000 shares on October 25, 2024, at an average price of $72.58, resulting in a transaction worth approximately $5.44 million. Just days later, on October 29, 2024, EVP Robert Soderbery sold 30,767 shares at an average price of $68.01, amounting to about $2.09 million. Additionally, SVP Gene M. Zamiska sold 1,659 shares on March 7, 2025, for roughly $68,616.24.

Alongside insider sales, Western Digital is also seeing increased short interest. Reuters reported that as of November 30, 2024, short interest surged by 20.1%, reaching 21,740,000 shares, up from 18,100,000 on November 15, 2024.

These developments come as Western Digital navigates a volatile market environment, with insiders and investors apparently hedging their bets on the company's future performance. The substantial increase in short interest indicates a rising bearish sentiment, suggesting that some market players are preparing for potential declines in the company's stock value.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Westpac's First-Half Profit Declines Amid Global Trade Concerns

Westpac's First-Half Profit Declines Amid Global Trade Concerns

29 minutes agoWBK

Westpac Banking Corporation, Australia's second-largest mortgage lender, recently announced a 1% dip in its first-half net profit, reporting A$3.32 billion. This performance fell short of analysts' expectations of A$3.43 billion, underscoring challenges in the current economic landscape. The bank's profitability was influenced by a decrease in its net interest margin (NIM), which slid to 1.88% as competition in the mortgage sector intensified and customers leaned towards lower-margin savings products. Additionally, operating costs surged by 6% due to investments in technology and advancements in the company's UNITE simplification program. Reuters reported that global trade risks were highlighted by CEO Anthony Miller as a significant concern, affecting both market confidence and funding conditions. Despite these hurdles, Westpac has slightly increased its interim dividend to 76 Australian cents per share. However, the factors outlined above, including mounting operational expenses and external economic pressures, have led to a decline in the company's share value, as investors express apprehension over future profit margins and geopolitical uncertainties.

BHP and Lundin Mining Join Forces in C$4 Billion Copper Venture

BHP and Lundin Mining Join Forces in C$4 Billion Copper Venture

59 minutes agoBHP

BHP Group and Lundin Mining Corporation have finalized their acquisition of Filo Corp., creating a new joint venture named Vicuña Corp. This partnership aims to develop the Filo del Sol and Josemaria copper projects, strategically located along the Argentina-Chile border. The joint venture combines the strengths of both companies in a 50/50 ownership to advance these projects. The acquisition deal was valued at approximately C$4.0 billion, excluding shares already held by BHP and Lundin Mining. BHP contributed C$2.0 billion (or US$1.4 billion) in cash, paying C$33.00 per share of Filo Corp, while Lundin Mining's contribution included C$877.8 million in cash and 94.1 million shares of its own stock. Vicuña Corp. will capitalize on the proximity of the projects to maximize shared infrastructure and economies of scale. The creation of Vicuña Corp. reflects a shift in industry trends, as major mining players like BHP are opting to acquire early-stage copper assets to mitigate rising development costs and navigate regulatory challenges. Reuters noted that this move aligns with growing global demand for copper, driven partly by the need for resources in green technology and technological advancements.

Palantir Reports Strong Q4 Revenue Growth as Buffett Announces CEO Transition

Palantir Reports Strong Q4 Revenue Growth as Buffett Announces CEO Transition

1 hours agoPLTR

Palantir Technologies Inc. has reported an impressive 36% year-over-year increase in its revenue for the fourth quarter of 2024, reaching $828 million. This surge is largely attributed to the booming success of its U.S. commercial segment, which saw a remarkable 54% growth compared to the previous year. The company's Advanced AI Platform (AIP) has been a driving force behind this growth, with the U.S. commercial customer base increasing nearly fivefold over the past three years due to rising demand for AI solutions. Additionally, Palantir's adjusted operating margins expanded to 45%, marking a record high for the company's profitability. Alongside Palantir's robust financial performance, its stock closed at $124.28 on May 3, 2025, reflecting a 6.98% increase from the previous day's closing. The Dow Jones Industrial Average also showed positive movement, with the ETF closing at $413.04, up 1.36%. Reuters reported that these developments come amid Palantir's strategic focus on expanding its AI capabilities and necessitating cutting-edge solutions to meet market demands. In a significant leadership transition at Berkshire Hathaway, Warren Buffett announced that he will step down as CEO by the end of 2025, with Vice Chairman Greg Abel set to take over. Buffett's leadership over more than six decades has transformed Berkshire into a $1.16 trillion conglomerate, making this transition a significant moment for the company and its investors. While Abel is seen as a capable successor, some investors remain cautious about the future of Berkshire without Buffett at the helm.

Gold Fields' Offer for Gold Road Remains Unresolved

Gold Fields' Offer for Gold Road Remains Unresolved

Gold Fields Ltd.'s bid to acquire Gold Road Resources Ltd. for A$3.3 billion remains in limbo as of May 4, 2025. The initial offer was made in March, proposing A$3.05 per share, but it faced a setback when Gold Road Resources rejected it. The rejection cited undervaluation and challenges related to the Gruyere gold mine's underground expansion plans. Following this decision, shares of Gold Road Resources soared to a record high. Despite the notable developments in March, there have been no subsequent updates about the acquisition as both companies remain silent on any new negotiations or modified proposals. Reuters reported earlier on the reaction of Gold Road Resources, highlighting the company's strategic concerns and shareholder interests that spurred the rejection. As it stands, investors are left waiting for any official pronouncements or movements in this acquisition saga. On the stock market front, Gold Fields Ltd. is currently trading at 21.2 USD, reflecting a slight decrease of 0.14 USD or 0.01% from the previous close. The trading volume was recorded at 3,816,779, with a range between 21.02 USD and 22.04 USD. As of the last trade on Saturday, May 3, the stock remains somewhat stable, yet closely watched by market participants given its ongoing interest in Australian gold assets.