Stonegate Investment Group LLC Reduces Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Stonegate Investment Group LLC lowered its position in Seagate Technology Holdings plc (NASDAQ:STX) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,999 shares of the data storage provider’s stock after selling 276 shares during the quarter. Stonegate Investment Group LLC’s holdings in Seagate Technology were worth $345,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Seagate Technology by 133.8% in the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after purchasing an additional 98,418 shares during the period. Versor Investments LP bought a new stake in shares of Seagate Technology during the 3rd quarter worth approximately $2,146,000. Forte Capital LLC ADV boosted its holdings in Seagate Technology by 29.8% during the 3rd quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock valued at $3,173,000 after acquiring an additional 6,653 shares during the period. International Assets Investment Management LLC grew its position in Seagate Technology by 3,549.7% in the 3rd quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock valued at $22,398,000 after acquiring an additional 198,890 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock worth $143,370,000 after purchasing an additional 1,012,638 shares during the period. Institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the sale, the chief executive officer now owns 622,497 shares in the company, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,073 shares of company stock valued at $5,106,149. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Trading Down 3.1 %

Shares of STX stock opened at $100.27 on Wednesday. The company has a market cap of $21.21 billion, a PE ratio of 18.33 and a beta of 1.06. Seagate Technology Holdings plc has a 12-month low of $82.31 and a 12-month high of $115.32. The business’s fifty day simple moving average is $95.17 and its 200-day simple moving average is $100.28.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, January 22nd. Mizuho reduced their target price on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. The Goldman Sachs Group dropped their price objective on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Susquehanna lifted their target price on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research report on Wednesday, January 22nd. Finally, Bank of America increased their price target on Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.56.

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.