Seagate Technology Holdings plc (NASDAQ:STX) CEO Sells $1,691,200.00 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the transaction, the chief executive officer now owns 555,677 shares of the company’s stock, valued at approximately $46,988,047.12. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Seagate Technology Trading Down 6.7 %

Shares of NASDAQ:STX opened at $66.73 on Friday. The firm has a 50 day simple moving average of $93.10 and a 200-day simple moving average of $97.54. Seagate Technology Holdings plc has a twelve month low of $63.95 and a twelve month high of $115.32. The company has a market capitalization of $14.13 billion, a PE ratio of 12.20 and a beta of 1.01.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in STX. Berkshire Bank raised its position in Seagate Technology by 2.6% in the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock valued at $355,000 after purchasing an additional 103 shares during the last quarter. MWA Asset Management grew its holdings in shares of Seagate Technology by 0.5% during the fourth quarter. MWA Asset Management now owns 19,636 shares of the data storage provider’s stock worth $1,695,000 after buying an additional 104 shares during the last quarter. Johnson Financial Group Inc. increased its position in Seagate Technology by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock valued at $52,000 after acquiring an additional 112 shares during the period. JFS Wealth Advisors LLC raised its stake in Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 113 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Seagate Technology by 2.3% during the 4th quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider’s stock valued at $431,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on STX. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Barclays raised their price target on Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Morgan Stanley dropped their target price on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Rosenblatt Securities upped their target price on shares of Seagate Technology from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

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.