68,587 Shares in Seagate Technology Holdings plc (NASDAQ:STX) Acquired by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 68,587 shares of the data storage provider’s stock, valued at approximately $6,382,000.

Several other institutional investors have also recently made changes to their positions in the stock. Csenge Advisory Group grew its stake in Seagate Technology by 1.4% in the 1st quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after buying an additional 119 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Seagate Technology by 1.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,446 shares of the data storage provider’s stock worth $786,000 after purchasing an additional 126 shares during the last quarter. Graypoint LLC lifted its position in Seagate Technology by 4.9% in the 1st quarter. Graypoint LLC now owns 2,710 shares of the data storage provider’s stock worth $252,000 after buying an additional 127 shares during the last quarter. CWM LLC boosted its stake in Seagate Technology by 3.9% in the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock worth $294,000 after buying an additional 130 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in Seagate Technology by 0.3% during the first quarter. Retirement Systems of Alabama now owns 43,005 shares of the data storage provider’s stock valued at $4,002,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In other news, SVP John Christopher Morris sold 5,928 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction of $592,740.72. Following the sale, the senior vice president now directly owns 12,185 shares in the company, valued at approximately $1,218,378.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Seagate Technology news, EVP Ban Seng Teh sold 10,742 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the transaction, the executive vice president now owns 5,042 shares in the company, valued at $504,200. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the senior vice president now owns 12,185 shares in the company, valued at approximately $1,218,378.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,531 shares of company stock valued at $3,592,946. Corporate insiders own 0.89% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX traded up $0.99 during trading hours on Friday, hitting $107.10. The company had a trading volume of 2,040,603 shares, compared to its average volume of 2,581,433. Seagate Technology Holdings plc has a 52-week low of $57.32 and a 52-week high of $108.97. The firm has a fifty day moving average price of $98.90 and a 200-day moving average price of $91.52. The stock has a market capitalization of $22.49 billion, a price-to-earnings ratio of -83.02 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business posted ($0.43) EPS. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. Research analysts anticipate that Seagate Technology Holdings plc will post 0.44 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Thursday, June 20th were issued a $0.70 dividend. The ex-dividend date was Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.61%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Susquehanna upped their price target on shares of Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Bank of America restated a “buy” rating and set a $110.00 price target on shares of Seagate Technology in a research report on Wednesday, June 5th. Loop Capital boosted their price objective on Seagate Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. The Goldman Sachs Group increased their price objective on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Mizuho upped their price target on shares of Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $98.88.

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.