Exchange Traded Concepts LLC Has $236,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

Exchange Traded Concepts LLC raised its position in Seagate Technology Holdings plc (NASDAQ:STX) by 4,214.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,157 shares of the data storage provider’s stock after acquiring an additional 2,107 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Seagate Technology were worth $236,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in STX. Quarry LP acquired a new stake in shares of Seagate Technology during the 2nd quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Seagate Technology during the 2nd quarter worth about $41,000. Larson Financial Group LLC lifted its stake in shares of Seagate Technology by 15,766.7% during the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after buying an additional 473 shares during the last quarter. Finally, Viking Fund Management LLC lifted its stake in shares of Seagate Technology by 722.2% during the 1st quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock worth $69,000 after buying an additional 650 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on STX shares. Morgan Stanley raised their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald lifted their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, TD Cowen lifted their price objective on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology has an average rating of “Hold” and a consensus price target of $115.94.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the sale, the chief executive officer now directly owns 648,616 shares in the company, valued at $69,842,970.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 648,616 shares in the company, valued at approximately $69,842,970.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gianluca Romano sold 25,760 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the completion of the transaction, the chief financial officer now owns 52,620 shares in the company, valued at $4,974,694.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 223,284 shares of company stock worth $23,800,887 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Seagate Technology Trading Down 0.3 %

Shares of Seagate Technology stock opened at $112.12 on Monday. The firm has a market capitalization of $23.54 billion, a PE ratio of -86.91 and a beta of 1.04. The firm’s 50 day moving average is $104.29 and its 200 day moving average is $99.21. Seagate Technology Holdings plc has a 1 year low of $64.12 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the firm posted ($0.29) EPS. The firm’s revenue was up 17.8% on a year-over-year basis. As a group, research analysts anticipate that Seagate Technology Holdings plc will post 7.09 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 23rd were given a dividend of $0.70 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.50%. Seagate Technology’s dividend payout ratio is presently -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.