Seagate Technology (NASDAQ:STX) CEO William Mosley Sells 20,000 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $271.03, for a total value of $5,420,600.00. Following the transaction, the chief executive officer directly owned 445,668 shares in the company, valued at approximately $120,789,398.04. This trade represents a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Seagate Technology Stock Down 1.2%

STX stock traded down $3.23 during midday trading on Tuesday, reaching $266.87. 3,101,032 shares of the company’s stock traded hands, compared to its average volume of 4,044,940. The company has a market cap of $56.99 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 1.17 and a beta of 1.63. The firm’s fifty day moving average price is $245.82 and its 200-day moving average price is $184.24. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $297.88.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 1.1%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. Seagate Technology’s dividend payout ratio is currently 38.00%.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. BNP Paribas Exane decreased their price target on shares of Seagate Technology from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Evercore ISI increased their price target on shares of Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. The Goldman Sachs Group increased their price target on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Argus upped their price target on Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $285.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vision Financial Markets LLC bought a new position in Seagate Technology in the second quarter worth approximately $173,000. Nordea Investment Management AB boosted its holdings in shares of Seagate Technology by 18.0% in the 2nd quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after buying an additional 2,808 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd grew its holdings in Seagate Technology by 185.8% in the second quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock worth $2,704,000 after purchasing an additional 12,178 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new position in Seagate Technology during the 1st quarter worth $272,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Seagate Technology by 21.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 61,263 shares of the data storage provider’s stock valued at $8,886,000 after acquiring an additional 10,847 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

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.