Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,679 shares of the data storage provider’s stock after selling 361 shares during the quarter. Park Avenue Securities LLC’s holdings in Seagate Technology were worth $622,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Czech National Bank raised its stake in shares of Seagate Technology by 14.9% during the 3rd quarter. Czech National Bank now owns 42,777 shares of the data storage provider’s stock worth $4,685,000 after buying an additional 5,563 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Seagate Technology in the second quarter worth approximately $3,113,000. Cetera Investment Advisers increased its position in shares of Seagate Technology by 10.9% during the second quarter. Cetera Investment Advisers now owns 61,710 shares of the data storage provider’s stock worth $6,373,000 after purchasing an additional 6,067 shares in the last quarter. SPC Financial Inc. lifted its holdings in Seagate Technology by 3.9% in the 2nd quarter. SPC Financial Inc. now owns 5,350 shares of the data storage provider’s stock valued at $552,000 after purchasing an additional 200 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in Seagate Technology during the 2nd quarter worth $1,241,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity

In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at $291,567.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 10,117 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the sale, the executive vice president now owns 5,387 shares of the company’s stock, valued at approximately $592,570. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 223,284 shares of company stock worth $23,800,887. Corporate insiders own 0.89% of the company’s stock.

Seagate Technology Trading Down 1.1 %

STX stock opened at $108.12 on Friday. The business’s fifty day moving average price is $102.21 and its 200 day moving average price is $98.31. Seagate Technology Holdings plc has a 12-month low of $64.12 and a 12-month high of $113.57. The company has a market capitalization of $22.76 billion, a PE ratio of -83.81 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) earnings per share. Research analysts predict that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 23rd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Monday, September 23rd. Seagate Technology’s dividend payout ratio is currently -217.05%.

Analyst Ratings Changes

Several equities research analysts have issued reports on STX shares. Cantor Fitzgerald lifted their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Loop Capital lifted their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. TD Cowen lifted their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley boosted their price target on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, UBS Group boosted their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and a consensus target price of $115.94.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.