EVP And Global Sales Of Seagate Tech Hldgs Trades $321.07 Thousand In Company Stock

Ban Seng Teh, EVP And Global Sales at Seagate Tech Hldgs STX, made a large buy and sell of company shares on September 14, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission reports that on September 14, Ban Seng Teh bought 1,037 Seagate Tech Hldgs shares at a price of $30.95 per share, for a total of $32,095. They then sold their shares on multiple transactions in the open market at prices ranging from $83.86 to $83.99 to raise a total of $288,979 from the sale.

Teh still owns a total of 8,710 of Seagate Tech Hldgs worth, $737,301.

Seagate Tech Hldgs shares are trading up 0.36% at $84.65 at the time of this writing on Thursday morning.

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The Importance of Insider Transactions

Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.

In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, that is an indication that they expect the stock to rise.

Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.

Transaction Codes To Focus On

Investors prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.

Check Out The Full List Of Seagate Tech Hldgs's Insider Trades.