Pacific Investment Management Sells Quantum Co. Shares

Pacific Investment Management, a major shareholder of Quantum Co. (NASDAQ:QMCO), has sold 228,195 shares of the company's stock during a transaction that took place on January 3rd. The shares were sold at an average price of $61.52 each, resulting in a total transaction value of $14,038,556.40. After this sale, the insider retains ownership of 525,994 shares, which are now valued at about $32,359,150.88. This divestment indicates a 30.26% reduction in their stake in Quantum Co. The details of this transaction have been officially reported in a filing with the SEC (Securities and Exchange Commission), which is accessible through the SEC website. Major shareholders who own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Quantum Price Performance

On Tuesday, NASDAQ QMCO traded down by $6.77, reaching a price of $45.11 during trading hours. A total of 1,395,154 shares exchanged hands on this day, exceeded the average trading volume of 1,741,911 shares. Over the past year, Quantum Co. has seen a price range between $2.22 and $90.64. Currently, the company’s 50-day moving average stands at $22.52, while the 200-day moving average is at $11.47.

Analyst Ratings Changes

In other news, Northland Securities has reaffirmed a "market perform" rating for Quantum, setting a target price of $5.00. This target price marks an increase from a previous estimate of $0.25 in a report released on November 14th.

About Quantum

Quantum Corporation specializes in products designed for storing and managing digital video along with unstructured data across various regions including the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers several advanced solutions such as: Myriad All-Flash File and Object Storage Software tailored for high-performance enterprise applications like AI and data analytics; Unified Surveillance Platform Software that integrates computing and storage for video surveillance purposes; StorNext Hybrid Flash/Disk File Storage Software suitable for video editing, post-production, and streaming applications as well as digital file archiving; and CatDV Asset Management Software designed for indexing, cataloging, enriching video, audio, and image files, and facilitating workflow orchestration.

Stock, Quantum, Investment