William D. Mosley Sells 20,000 Shares of Seagate Technology Holdings plc (NASDAQ:STX) Stock

Seagate Technology Holdings plc (NASDAQ:STX) CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the sale, the chief executive officer now directly owns 648,616 shares of the company’s stock, valued at $69,842,970.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Seagate Technology Stock Performance

STX stock opened at $107.24 on Friday. The company has a market capitalization of $22.52 billion, a P/E ratio of -83.13 and a beta of 1.04. The company has a fifty day moving average price of $101.64 and a 200-day moving average price of $97.75. Seagate Technology Holdings plc has a 52-week low of $64.12 and a 52-week high of $113.57.

Seagate Technology (NASDAQ:STX) last announced its 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. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned ($0.29) EPS. Seagate Technology’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s payout ratio is presently -217.05%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on STX shares. Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, July 24th. Rosenblatt Securities upped their target price on Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group upped their price objective on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Loop Capital lifted their target price on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Hold” and a consensus price target of $115.94.

Institutional Trading of Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. Quarry LP bought a new stake in shares of Seagate Technology in the 2nd quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after buying an additional 337 shares during the period. Family Firm Inc. bought a new stake in Seagate Technology during the second quarter valued at $41,000. Larson Financial Group LLC grew its holdings in Seagate Technology by 15,766.7% during the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after acquiring an additional 473 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in shares of Seagate Technology in the 4th quarter worth about $47,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Company Profile

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.