Insider Selling: Seagate Technology Holdings plc (NASDAQ:STX) CEO Sells $15,621,871.30 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the sale, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Seagate Technology Stock Performance

Shares of STX opened at $108.74 on Monday. Seagate Technology Holdings plc has a one year low of $63.88 and a one year high of $113.57. The stock has a market capitalization of $22.89 billion, a price-to-earnings ratio of -84.29 and a beta of 1.03. The stock has a 50 day moving average price of $101.37 and a 200 day moving average price of $97.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 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 firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the business earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is currently -217.05%.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. Capital Research Global Investors boosted its stake in Seagate Technology by 39.3% during the fourth quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock worth $1,418,413,000 after buying an additional 4,685,454 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Seagate Technology by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after purchasing an additional 746,395 shares during the last quarter. Putnam Investments LLC lifted its stake in shares of Seagate Technology by 124.3% in the 4th quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider’s stock valued at $58,091,000 after purchasing an additional 377,148 shares during the last quarter. Delta Global Management LP acquired a new position in shares of Seagate Technology in the 1st quarter valued at $33,478,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Seagate Technology in the 2nd quarter valued at $35,349,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on STX. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, July 24th. Loop Capital lifted their price target on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI lifted their price target on Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. TD Cowen lifted their price target on Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Susquehanna lifted their price target on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Hold” and an average price target 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.