WDC is trading at $271.25, down 5.15% today following a $5.1 million stock sale by CEO Irving Tan and growing concerns over the stock's valuation.
- CEO Irving Tan's sale was executed under a Rule 10b5-1 trading plan on February 2, potentially signaling insider caution despite recent price target upgrades to $420 and $369 from Cantor Fitzgerald and Morgan Stanley.
- Valuation remains a point of contention; while institutional analysts are bullish following Innovation Day, other models suggest the stock is 39.2% overvalued with a fair value of $187 per share.
- Broader market headwinds, including weak retail sales data and a cryptocurrency selloff, are adding further pressure to the tech sector and contributing to WDC's recent volatility.