Director Michael R. Cannon sold 24,190 shares of STX at $119.00 on 2025-06-02; holdings reduced 69.1% to 10.8K shares.
Director Michael R. Cannon divested 24,190 shares at $119.00, reducing his stake from 35,025 to 10,835 shares—a 69.1% reduction in holdings. The sale occurred when STX is trading at $126.97, within 0.6% of its 52-week high of $127.70, following a 33.0% gain over the past 30 days and 44.3% gain over 90 days. This sale represents a material reduction in insider ownership at a point where the stock has appreciated substantially and currently trades at a P/E of 18.04, while the company reported -11.3% annual revenue growth in its latest period. The combination of significant position reduction and the timing relative to recent strong price appreciation merits investor attention.