BLOG / 🇺🇸 United States / index intelligence · · daily

S&P 500 Technology Sector SEC Filings — June 24, 2026

USA S&P 500 Technology

By Gunpowder Editorial ·

12 high priority 1 medium priority 13 total filings analysed

Executive Summary

The 13 filings reveal a mixed picture for the S&P 500 Technology sector. Micron Technology reported record revenue of $41.46B (+346% YoY) driven by AI memory demand, with strong guidance for Q4.

However, insider selling activity is widespread: Datadog's CTO sold $3.28M, Palo Alto Networks' CFO sold $609K, Arista's CTO sold $769K, and multiple Snowflake executives sold or had shares withheld for taxes. Qualcomm announced a stock-based acquisition of Modular Inc. (up to 19.2M shares), signaling M&A activity. Overall, the sector shows robust growth but insider selling raises caution.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: Form 4 · 8-K

Tracking the trend? Catch up on the prior S&P 500 Technology Sector SEC Filings digest from June 23, 2026.

Investment Signals (10)

  • Micron Technology ↓ (BULLISH)
    ▲

    Record FQ3 revenue $41.46B (+346% YoY, +74% QoQ), GAAP EPS $24.67, Q4 guidance $50B revenue and $30.73 EPS

  • Micron Technology ↓ (BULLISH)
    ▲

    Cloud Memory revenue $13.77B (+306% YoY, +78% QoQ) with 78% operating margin; Core Data Center revenue $11.52B (+653% YoY, +102% QoQ) with 83% margin

  • Qualcomm ↓ (BULLISH)
    ▲

    Acquiring Modular Inc. for up to 19.2M shares in private placement, signaling strategic expansion

  • Datadog ↓ (BEARISH)
    ▲

    CTO Le-Quoc Alexis sold $3.28M at $221.28, part of a 10b5-1 plan; 13 transactions reported

  • Palo Alto Networks ↓ (BEARISH)
    ▲

    CFO Golechha Dipak sold $609K at $290.03, 6 transactions under 10b5-1 plan

  • Arista Networks ↓ (BEARISH)
    ▲

    President/CTO Duda Kenneth sold $769K at $169.39 after exercising options at $15.28, 28 transactions total

  • Snowflake ↓ (BEARISH)
    ▲

    CRO Beaulier sold $2.17M at $231.98; CEO Ramaswamy had shares withheld for taxes ($793K); multiple executives selling

  • Cadence Design Systems ↓ (BEARISH)
    ▲

    SVP TENG CHIN-CHI sold $496K at $387.43 after exercising options at $202.94

  • Intuit ↓ (NEUTRAL)
    ▲

    Director DALZELL sold $74.5K at $262.32, small sale but notable

  • Micron Technology ↓ (BULLISH)
    ▲

    Operating expenses rose 7% QoQ to $1.74B, but revenue growth far outpaced

Risk Flags (8)

  • Datadog↓ [HIGH RISK]
    ▼

    CTO sold $3.28M; 13 insider transactions reported, all sales

  • Palo Alto Networks↓ [MEDIUM RISK]
    ▼

    CFO sold $609K; 6 transactions under 10b5-1 plan

  • Arista Networks↓ [HIGH RISK]
    ▼

    President/CTO sold $769K; 28 transactions, pattern of option exercise and sale

  • Snowflake↓ [HIGH RISK]
    ▼

    Multiple executives selling: CRO $2.17M, EVP Product $599K; CEO and CAO had shares withheld for taxes

  • Cadence Design Systems↓ [MEDIUM RISK]
    ▼

    SVP sold $496K; 13 transactions, exercise and sell pattern

  • Snowflake↓ [MEDIUM RISK]
    ▼

    Insider selling concentrated among revenue and product leadership, may signal growth concerns

  • Qualcomm↓ [MEDIUM RISK]
    ▼

    Acquisition of Modular Inc. involves stock issuance; no financial terms disclosed, integration risk

  • Micron Technology↓ [MEDIUM RISK]
    ▼

    Q4 guidance implies sequential revenue growth of ~21% vs 74% in Q3, deceleration

Opportunities (7)

  • Micron Technology↓ (OPPORTUNITY)
    ◆

    Record revenue and EPS, AI memory demand driving growth; Q4 guidance implies continued strength; trading at attractive multiples relative to growth

  • Micron Technology↓ (OPPORTUNITY)
    ◆

    Cloud Memory and Core Data Center segments growing >300% YoY with >78% margins; AI tailwind

  • Qualcomm↓ (OPPORTUNITY)
    ◆

    Acquisition of Modular Inc. could expand capabilities; stock-based deal aligns incentives

  • Arista Networks↓ (OPPORTUNITY)
    ◆

    Insider selling may create buying opportunity if fundamentals remain strong; company is a leader in data center networking

  • Datadog↓ (OPPORTUNITY)
    ◆

    Insider selling under 10b5-1 plan may not reflect conviction; company is a leader in observability

  • Snowflake↓ (OPPORTUNITY)
    ◆

    Insider selling may be overdone; company has strong revenue growth and large TAM

  • Palo Alto Networks↓ (OPPORTUNITY)
    ◆

    CFO sale under 10b5-1 plan; cybersecurity spending remains strong

Sector Themes (5)

  • AI Memory Demand Driving Record Results
    ◆

    Micron's 346% YoY revenue growth highlights AI's impact on semiconductor memory; other tech companies may benefit similarly

  • Widespread Insider Selling
    ◆

    6 of 13 filings involve insider sales; executives at Datadog, Palo Alto, Arista, Snowflake, Cadence, and Intuit sold shares; pattern may indicate sector caution

  • M&A Activity via Stock
    ◆

    Qualcomm's acquisition of Modular Inc. using stock suggests companies are using equity as currency; may signal confidence in stock valuation

  • Revenue Growth Outpacing Expense Growth
    ◆

    Micron's revenue grew 74% QoQ while opex grew only 7%, showing operating leverage; other tech firms may show similar trends

  • Tax Withholding vs. Discretionary Sales
    ◆

    Snowflake executives had shares withheld for taxes (non-discretionary) but also sold shares; mix of signals

Watch List (8)

  • Micron Technology↓
    👁

    Q4 earnings call (expected late Sep 2026) to see if guidance is met; watch for AI demand sustainability

  • Qualcomm↓
    👁

    Acquisition of Modular Inc. closing; monitor for regulatory approvals and integration updates

  • Snowflake↓
    👁

    Insider selling activity; watch for further sales by executives, especially CRO and EVP Product

  • Datadog↓
    👁

    CTO continued selling under 10b5-1 plan; monitor for pattern changes

  • Arista Networks↓
    👁

    President/CTO selling pattern; watch for any change in fundamentals

  • Palo Alto Networks↓
    👁

    CFO selling; monitor for any guidance changes in upcoming earnings

  • Cadence Design Systems↓
    👁

    SVP selling; watch for other insider activity

  • Sector-wide
    👁

    Monitor Q2 earnings reports for margin trends and AI-related demand commentary

Filing Analyses (13)
Datadog, Inc. 4 negative materiality 5/10

24-06-2026

Chief Technology Officer Le-Quoc Alexis sold 14,844 Class A Common Stock at $221.28 (~$3.28M). 13 transactions reported in total. Le-Quoc Alexis holds 509,805 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Chief Technology Officer Le-Quoc Alexis exercised/converted 43,224 Class A Common Stock
  • · Chief Technology Officer Le-Quoc Alexis sold 2,800 Class A Common Stock at $217.13 (~$608K)
  • · Chief Technology Officer Le-Quoc Alexis sold 3,300 Class A Common Stock at $218.14 (~$720K)
  • · Chief Technology Officer Le-Quoc Alexis sold 7,903 Class A Common Stock at $219.10 (~$1.73M)
  • · Chief Technology Officer Le-Quoc Alexis sold 2,977 Class A Common Stock at $220.14 (~$655K)
  • · Chief Technology Officer Le-Quoc Alexis sold 14,844 Class A Common Stock at $221.28 (~$3.28M)
  • · Chief Technology Officer Le-Quoc Alexis sold 4,076 Class A Common Stock at $222.12 (~$905K)
  • · Chief Technology Officer Le-Quoc Alexis sold 2,124 Class A Common Stock at $223.10 (~$474K)
Palo Alto Networks Inc 4 negative materiality 5/10

24-06-2026

EVP, Chief Financial Officer Golechha Dipak sold 2,100 Common Stock at $290.03 (~$609K). 6 transactions reported in total. Golechha Dipak holds 145,250 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · EVP, Chief Financial Officer Golechha Dipak sold 300 Common Stock at $284.80 (~$85.4K)
  • · EVP, Chief Financial Officer Golechha Dipak sold 200 Common Stock at $286.68 (~$57.3K)
  • · EVP, Chief Financial Officer Golechha Dipak sold 1,300 Common Stock at $288.96 (~$376K)
  • · EVP, Chief Financial Officer Golechha Dipak sold 2,100 Common Stock at $290.03 (~$609K)
  • · EVP, Chief Financial Officer Golechha Dipak sold 886 Common Stock at $291.07 (~$258K)
  • · EVP, Chief Financial Officer Golechha Dipak sold 214 Common Stock at $291.84 (~$62.5K)
INTUIT INC. 4 negative materiality 2/10

24-06-2026

Director DALZELL RICHARD L sold 284 Common Stock at $262.32 (~$74.5K). DALZELL RICHARD L holds 11,758 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Director DALZELL RICHARD L sold 284 Common Stock at $262.32 (~$74.5K)
CADENCE DESIGN SYSTEMS INC 4 negative materiality 4/10

24-06-2026

Sr. Vice President TENG CHIN-CHI sold 1,281 Common Stock at $387.43 (~$496K). 13 transactions reported in total. TENG CHIN-CHI holds 145,281 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Sr. Vice President TENG CHIN-CHI exercised/converted 1,000 Common Stock at $202.94 (~$203K)
  • · Sr. Vice President TENG CHIN-CHI sold 200 Common Stock at $379.18 (~$75.8K)
  • · Sr. Vice President TENG CHIN-CHI sold 280 Common Stock at $379.92 (~$106K)
  • · Sr. Vice President TENG CHIN-CHI sold 400 Common Stock at $381.28 (~$153K)
  • · Sr. Vice President TENG CHIN-CHI sold 998 Common Stock at $382.35 (~$382K)
  • · Sr. Vice President TENG CHIN-CHI sold 160 Common Stock at $383.36 (~$61.3K)
  • · Sr. Vice President TENG CHIN-CHI sold 241 Common Stock at $384.39 (~$92.6K)
  • · Sr. Vice President TENG CHIN-CHI sold 240 Common Stock at $385.85 (~$92.6K)
Arista Networks, Inc. 4 neutral materiality 4/10

24-06-2026

President and CTO Duda Kenneth exercised/converted 17,333 Non-Qualified Stock Option (right to buy). Trades executed under a Rule 10b5-1 plan.

  • · President and CTO Duda Kenneth exercised/converted 17,333 Non-Qualified Stock Option (right to buy)
Arista Networks, Inc. 4 negative materiality 6/10

24-06-2026

President and CTO Duda Kenneth sold 4,537 Common Stock at $169.39 (~$769K). 28 transactions reported in total. Duda Kenneth holds 472,400 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · President and CTO Duda Kenneth exercised/converted 17,333 Common Stock at $15.28 (~$265K)
  • · President and CTO Duda Kenneth sold 440 Common Stock at $167.35 (~$73.6K)
  • · President and CTO Duda Kenneth sold 1,824 Common Stock at $168.63 (~$308K)
  • · President and CTO Duda Kenneth sold 4,537 Common Stock at $169.39 (~$769K)
  • · President and CTO Duda Kenneth sold 1,754 Common Stock at $170.37 (~$299K)
  • · President and CTO Duda Kenneth sold 1,566 Common Stock at $171.49 (~$269K)
  • · President and CTO Duda Kenneth sold 920 Common Stock at $172.32 (~$159K)
  • · President and CTO Duda Kenneth sold 2,323 Common Stock at $173.69 (~$403K)
Snowflake Inc. 4 neutral materiality 3/10

24-06-2026

SVP, Engineering Raghunathan Vivek had withheld for taxes 3,603 Common Stock at $232.29 (~$837K). Raghunathan Vivek holds 255,086 shares after the transaction.

  • · SVP, Engineering Raghunathan Vivek had withheld for taxes 3,603 Common Stock at $232.29 (~$837K)
Snowflake Inc. 4 neutral materiality 5/10

24-06-2026

Chief Executive Officer Ramaswamy Sridhar had withheld for taxes 3,415 Common Stock at $232.29 (~$793K). Ramaswamy Sridhar holds 474,092 shares after the transaction.

  • · Chief Executive Officer Ramaswamy Sridhar had withheld for taxes 3,415 Common Stock at $232.29 (~$793K)
  • · Chief Executive Officer Ramaswamy Sridhar had withheld for taxes 1,012 Common Stock at $232.29 (~$235K)
Snowflake Inc. 4 negative materiality 4/10

24-06-2026

Chief Revenue Officer Beaulier Jonathan Mead sold 9,367 Common Stock at $231.98 (~$2.17M). 4 transactions reported in total. Beaulier Jonathan Mead holds 234,081 shares after the transaction.

  • · Chief Revenue Officer Beaulier Jonathan Mead sold 9,367 Common Stock at $231.98 (~$2.17M)
  • · Chief Revenue Officer Beaulier Jonathan Mead had withheld for taxes 69 Common Stock at $232.29 (~$16K)
  • · Chief Revenue Officer Beaulier Jonathan Mead had withheld for taxes 470 Common Stock at $232.29 (~$109K)
  • · Chief Revenue Officer Beaulier Jonathan Mead had withheld for taxes 171 Common Stock at $232.29 (~$39.7K)
Snowflake Inc. 4 negative materiality 3/10

24-06-2026

EVP, Product Management Kleinerman Christian sold 2,621 Common Stock at $228.45 (~$599K). Kleinerman Christian holds 400,379 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · EVP, Product Management Kleinerman Christian had withheld for taxes 1,793 Common Stock at $232.29 (~$416K)
  • · EVP, Product Management Kleinerman Christian had withheld for taxes 859 Common Stock at $232.29 (~$200K)
  • · EVP, Product Management Kleinerman Christian sold 2,621 Common Stock at $228.45 (~$599K)
Snowflake Inc. 4 neutral materiality 3/10

24-06-2026

Chief Accounting Officer Ho Emily had withheld for taxes 708 Common Stock at $232.29 (~$164K). Ho Emily holds 43,143 shares after the transaction.

  • · Chief Accounting Officer Ho Emily had withheld for taxes 312 Common Stock at $232.29 (~$72.5K)
  • · Chief Accounting Officer Ho Emily had withheld for taxes 708 Common Stock at $232.29 (~$164K)
QUALCOMM INC/DE 8-K neutral materiality 6/10

24-06-2026

Qualcomm entered into a definitive agreement to acquire Modular Inc. on June 21, 2026, with consideration of up to 19.2 million shares of Qualcomm common stock to be issued in a private placement exempt from registration under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D. The acquisition is subject to customary closing conditions, and the number of shares may be adjusted based on closing purchase price adjustments. No financial terms beyond the stock consideration were disclosed, and the filing does not provide any performance metrics or period-over-period comparisons.

  • · The acquisition was announced on June 21, 2026, and the 8-K was filed on June 24, 2026.
  • · The stock issuance will be made in a private placement under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D.
  • · The filing includes forward-looking statements noting risks such as timing, regulatory approvals, and potential adjustments to the share count based on closing purchase price adjustments.
MICRON TECHNOLOGY INC 8-K positive materiality 9/10

24-06-2026

Micron Technology reported record fiscal Q3 2026 revenue of $41.46B, up 74% sequentially from $23.86B and 346% YoY from $9.30B, driven by AI memory demand. GAAP net income surged to $28.24B ($24.67 diluted EPS) from $13.79B in Q2 and $1.89B a year ago. However, operating expenses rose 7% QoQ to $1.74B, and the company guided Q4 revenue of $50.0B ± $1.0B with EPS of $30.73 ± $1.00, reflecting continued strong but potentially decelerating growth.

  • · Cloud Memory Business Unit revenue was $13.77B in FQ3-26, up from $7.75B in FQ2-26 and $3.39B in FQ3-25, with operating margin of 78%.
  • · Core Data Center Business Unit revenue was $11.52B in FQ3-26, up from $5.69B in FQ2-26 and $1.53B in FQ3-25, with operating margin of 83%.
  • · Mobile and Client Business Unit revenue was $11.52B in FQ3-26, up from $7.71B in FQ2-26 and $3.26B in FQ3-25, with operating margin of 86%.
  • · Automotive and Embedded Business Unit revenue was $4.63B in FQ3-26, up from $2.71B in FQ2-26 and $1.13B in FQ3-25, with operating margin of 75%.
  • · Board declared a quarterly dividend of $0.15 per share, payable July 21, 2026 to holders of record July 6, 2026.
  • · HBM4 built on 1-beta DRAM is in high-volume shipments; HBM4E on 1-gamma DRAM is in development with volume production expected in calendar 2027.
  • · Qualification samples of 256GB DDR5 RDIMMs using 1-gamma DRAM and 3D die stacking have shipped.
  • · 1-gamma 16Gb LPDDR5X is ramping at a leading smartphone OEM; 1-gamma 24Gb LP5X is sampling to multiple customers.
  • · 1-gamma LPDDR5 reached automotive product readiness; first 1-gamma DDR5 samples shipped to a robotaxi customer.
  • · G9-based UFS 4.1 automotive NAND solution began first volume shipments.
  • · Total assets grew to $134.1B as of May 28, 2026, from $101.5B on February 26, 2026.
  • · Long-term debt decreased to $5.14B from $9.56B in the prior quarter, reflecting debt repayments.
  • · Retained earnings increased to $94.68B from $66.82B in the prior quarter.

Get daily alerts with 10 investment signals, 8 risk alerts, 7 opportunities and full AI analysis of all 13 filings

Start free trial Browse all digests

$30/mo after a 14-day free trial — no credit card required. See pricing or explore intelligence streams.

More from: S&P 500 Technology Sector SEC Filings

June 22, 2026

S&P 500 Technology Sector SEC Filings — June 22, 2026

June 18, 2026

S&P 500 Technology Sector SEC Filings — June 18, 2026

June 17, 2026

S&P 500 Technology Sector SEC Filings — June 17, 2026

June 16, 2026

S&P 500 Technology Sector SEC Filings — June 16, 2026

🇺🇸 More from United States

View all →

June 24, 2026

US Pre-Market SEC Filings Roundup — June 24, 2026

US Pre-Market SEC Filings Roundup

June 24, 2026

US Activist Hedge Fund Institutional SEC 13D 13G — June 24, 2026

US Activist Hedge Fund Institutional SEC 13D 13G

June 24, 2026

S&P 500 Consumer Staples Sector SEC Filings — June 24, 2026

S&P 500 Consumer Staples Sector SEC Filings

June 24, 2026

S&P 500 Industrials Sector SEC Filings — June 24, 2026

S&P 500 Industrials Sector SEC Filings
← All United States digests