Quantum Co. (NASDAQ:QMCO) Major Shareholder Pacific Investment Management Sells 228,195 Shares

Quantum Co. (NASDAQ:QMCO) major shareholder Pacific Investment Management sold 228,195 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $61.52, for a total transaction of $14,038,556.40. Following the transaction, the insider now directly owns 525,994 shares of the company’s stock, valued at $32,359,150.88. This represents a 30.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Quantum Stock Performance

QMCO traded down $6.77 on Tuesday, hitting $45.11. 1,395,154 shares of the company were exchanged, compared to its average volume of 1,741,911. Quantum Co. has a 12 month low of $2.22 and a 12 month high of $90.64. The stock’s fifty day moving average is $22.52 and its 200-day moving average is $11.47.

Analyst Upgrades and Downgrades

Separately, Northland Securities reaffirmed a “market perform” rating and issued a $5.00 target price (up previously from $0.25) on shares of Quantum in a research report on Thursday, November 14th.

About Quantum

Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.