Insider Selling: Seagate Technology Holdings plc (NASDAQ:STX) SVP Sells $592,740.72 in Stock

Seagate Technology Holdings plc (NASDAQ:STXGet Free Report) SVP John Christopher Morris sold 5,928 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total value of $592,740.72. Following the sale, the senior vice president now directly owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

John Christopher Morris also recently made the following trade(s):

  • On Tuesday, May 7th, John Christopher Morris sold 11,158 shares of Seagate Technology stock. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00.

Seagate Technology Price Performance

STX opened at $103.86 on Friday. Seagate Technology Holdings plc has a one year low of $57.32 and a one year high of $105.28. The firm has a market capitalization of $21.81 billion, a P/E ratio of -80.51 and a beta of 1.03. The company has a fifty day moving average price of $91.76 and a 200-day moving average price of $88.49.

Seagate Technology (NASDAQ:STXGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the business earned ($0.43) EPS. The business’s revenue was down 11.0% on a year-over-year basis. On average, analysts expect that Seagate Technology Holdings plc will post 0.44 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio is currently -217.05%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its holdings in shares of Seagate Technology by 68.8% in the 4th quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock worth $12,212,000 after purchasing an additional 58,300 shares in the last quarter. JPMorgan Chase & Co. grew its position in Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after acquiring an additional 1,485,937 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Seagate Technology by 8.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after acquiring an additional 561 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Seagate Technology in the 4th quarter worth approximately $230,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Seagate Technology by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock valued at $11,620,000 after purchasing an additional 1,419 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. Cantor Fitzgerald increased their target price on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Wedbush upgraded shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Wednesday, May 1st. Loop Capital upped their price objective on Seagate Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Citigroup began coverage on Seagate Technology in a research report on Tuesday, May 14th. They issued a “buy” rating and a $110.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $98.29.

Get Our Latest Stock Analysis on STX

Seagate Technology Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Seagate Technology (NASDAQ:STX)

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