Seagate (STX): revenue up 34%, a stock up 253% in a year, and $379 million of insider sales in three months
By Gabriel Zacarkim · Published Oct 11, 2026 · Data as of Oct 9, 2026 close (13F positions as of June 30, 2026)
Seagate closed at $783.00 on October 9, 2026, worth $178 billion and up 253% from a year earlier. The climb peaked at a close of $1,094.04 on June 22, 2026; since then the stock has fallen 28.4%, and it was 18.9% below its June 30 close, the price the 13F filings use.
A record fiscal year
Seagate’s fiscal 2026 ended on July 3, 2026. Revenue grew 34% to $12.2 billion and net income more than doubled to $3.18 billion, with GAAP earnings per share of $13.90; the company also reported record free cash flow of $3.1 billion. Chief executive Dave Mosley attributed the results to “robust cloud data center demand.” In the fourth quarter alone, revenue was $3.6 billion and the gross margin 52.3%. During the year Seagate retired $1.4 billion of debt and returned $810 million to shareholders.
| Fiscal year | Revenue | Net income | Net margin |
|---|---|---|---|
| 2022 | $11.66B | $1.65B | 14.1% |
| 2023 | $7.38B | −$0.53B | −7.2% |
| 2024 | $6.55B | $0.34B | 5.1% |
| 2025 | $9.10B | $1.47B | 16.1% |
| 2026 | $12.20B | $3.18B | 26.1% |
In June, Seagate called its 3.50% exchangeable notes due 2028 for redemption on September 8, 2026; holders who exchanged instead received shares — 1,647,862 ordinary shares for $150.51 million of notes on that date alone. The quarterly dividend is $0.74. Two directors, Michael Cannon and Shankar Arumugavelu, are not standing for re-election at the 2026 annual meeting.
Who held it at the end of June
| Manager | Shares, Jun 30 | Value, Jun 30 | Change in shares vs. Mar 31 |
|---|---|---|---|
| Cliff Asness (AQR) | 1,245,371 | $1,201.8M | +24.4% |
| Stephen Mandel (Lone Pine) | 1,000,109 | $965.1M | new |
| Steve Cohen (Point72) | 822,914 | $794.1M | +50.6% |
| Ken Griffin (Citadel) | 755,495 | $729.1M | +582.2% |
| Israel Englander (Millennium) | 633,069 | $610.9M | +152.9% |
| Renaissance Technologies | 457,353 | $441.3M | +47.3% |
| Two Sigma | 354,816 | $342.4M | +246.1% |
| Chase Coleman (Tiger Global) | 285,100 | $275.1M | new |
| Ray Dalio (Bridgewater) | 199,822 | $192.8M | −39.3% |
| Stanley Druckenmiller (Duquesne) | 122,000 | $117.7M | +140.6% |
| Daniel Sundheim (D1) | 30,115 | $29.1M | new |
| Lee Ainslie (Maverick) | 1,210 | $1.2M | new (held in 2025) |
Thirteen of the 38 managers held Seagate at the end of June (Baillie Gifford with 40 shares), up from eight in March, and their combined shares more than doubled, from 2.7 million to 5.9 million. Three appear for the first time in this site’s records: Stephen Mandel’s Lone Pine, with about a million shares, Chase Coleman’s Tiger Global and Daniel Sundheim’s D1. Only Ray Dalio’s Bridgewater cut. A 13F does not say on which day of the quarter shares were bought — only that the new positions and the increases happened during a quarter in which the stock climbed to its June 22 peak — and it values them at the June 30 close.
Insiders: heavy selling, mostly by plan or for taxes
From late July to early October, six Seagate insiders sold $379.3 million of stock and none bought. $212.8 million went through 10b5-1 trading plans and $129.2 million were sales to cover taxes on vesting shares; $37.4 million was sold without either label. Chief executive Dave Mosley accounted for $171.6 million in 125 sales and finance chief Gianluca Romano for $108.1 million. Daily data is on the Seagate page. Not investment advice.
Sources
- Fiscal Q4 and fiscal 2026 results (Jul 28, 2026)
- Seagate 10-K, fiscal 2026
- 8-K: director not standing for re-election (May 6, 2026)
- 8-K: redemption notice for the 2028 exchangeable notes (Jun 12, 2026)
- 8-K: second director not standing for re-election (Sep 4, 2026)
- 8-K: shares delivered for exchanged notes (Sep 9, 2026)
For information only, not investment advice. The figures come from the filings listed above and describe what happened, not what will.