Point72 DIFC Ltd Sells 6,958 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Point72 DIFC Ltd decreased its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 39.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,681 shares of the data storage provider’s stock after selling 6,958 shares during the period. Point72 DIFC Ltd’s holdings in Seagate Technology were worth $1,103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of STX. CWM LLC increased its position in shares of Seagate Technology by 3.0% during the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after purchasing an additional 97 shares during the last quarter. Csenge Advisory Group raised its position in Seagate Technology by 1.4% during the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after acquiring an additional 119 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its stake in Seagate Technology by 3.7% in the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock valued at $357,000 after acquiring an additional 122 shares during the last quarter. Burney Co. grew its position in shares of Seagate Technology by 3.3% in the 1st quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock valued at $367,000 after acquiring an additional 125 shares during the period. Finally, Forum Financial Management LP increased its stake in shares of Seagate Technology by 4.0% during the 2nd quarter. Forum Financial Management LP now owns 3,228 shares of the data storage provider’s stock worth $333,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of research analyst reports. Barclays lifted their price target on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their price target on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Morgan Stanley lifted their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Susquehanna increased their price objective on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Seagate Technology has a consensus rating of “Hold” and a consensus target price of $115.94.

Insider Activity at Seagate Technology

In other news, CFO Gianluca Romano sold 25,760 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total value of $2,435,350.40. Following the completion of the transaction, the chief financial officer now owns 52,620 shares of the company’s stock, valued at $4,974,694.80. The transaction was disclosed in a document filed 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 dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Gianluca Romano sold 25,760 shares of Seagate Technology stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total value of $2,435,350.40. Following the sale, the chief financial officer now directly owns 52,620 shares in the company, valued at $4,974,694.80. The disclosure for this sale can be found here. Insiders have sold 56,627 shares of company stock valued at $5,489,495 over the last ninety days. 0.89% of the stock is owned by corporate insiders.

Seagate Technology Stock Up 0.7 %

STX opened at $106.63 on Wednesday. Seagate Technology Holdings plc has a twelve month low of $63.32 and a twelve month high of $113.57. The company has a 50-day simple moving average of $101.05 and a 200 day simple moving average of $96.73.

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

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.63%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Seagate Technology 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.