Tealwood Asset Management Inc. Sells 359 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Tealwood Asset Management Inc. reduced its position in Seagate Technology Holdings plc (NASDAQ:STX) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,422 shares of the data storage provider’s stock after selling 359 shares during the period. Seagate Technology comprises 1.4% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 7th biggest position. Tealwood Asset Management Inc.’s holdings in Seagate Technology were worth $3,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STX. Quarry LP purchased a new stake in shares of Seagate Technology in the second quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 337 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Seagate Technology during the second quarter valued at $41,000. Larson Financial Group LLC raised its stake in Seagate Technology by 15,766.7% in the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after purchasing an additional 473 shares during the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in Seagate Technology in the 4th quarter valued at about $47,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on STX shares. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Morgan Stanley lifted their price objective on Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wedbush raised their price target on Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. TD Cowen upped their price objective on shares of Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Susquehanna raised their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $115.94.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total value of $2,153,600.00. Following the completion of the sale, the chief executive officer now directly owns 648,616 shares of the company’s stock, valued at approximately $69,842,970.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total value of $2,153,600.00. Following the transaction, the chief executive officer now owns 648,616 shares of the company’s stock, valued at approximately $69,842,970.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 223,284 shares of company stock worth $23,800,887 over the last ninety days. Company insiders own 0.89% of the company’s stock.

Seagate Technology Stock Up 1.4 %

Shares of NASDAQ:STX traded up $1.50 during trading on Tuesday, hitting $107.63. 208,822 shares of the company traded hands, compared to its average volume of 2,503,318. The stock has a market capitalization of $22.66 billion, a price-to-earnings ratio of -82.27 and a beta of 1.04. Seagate Technology Holdings plc has a one year low of $64.12 and a one year high of $113.57. The business’s fifty day moving average is $101.69 and its 200-day moving average is $98.02.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) EPS. On average, analysts forecast that Seagate Technology Holdings plc will post 6.72 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 23rd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.60%. Seagate Technology’s payout ratio is -217.05%.

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.