Wealthcare Advisory Partners LLC Boosts Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Wealthcare Advisory Partners LLC increased its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,287 shares of the data storage provider’s stock after purchasing an additional 142 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Seagate Technology were worth $456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STX. Ashton Thomas Securities LLC purchased a new position in shares of Seagate Technology in the 3rd quarter worth about $26,000. Quarry LP purchased a new stake in Seagate Technology in the second quarter worth approximately $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in 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 worth $36,000 after buying an additional 337 shares in the last quarter. Advisors Asset Management Inc. grew its position in Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after acquiring an additional 258 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 293 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Price Performance

NASDAQ STX opened at $97.67 on Tuesday. The business has a 50 day moving average price of $94.32 and a 200 day moving average price of $100.28. The company has a market capitalization of $20.66 billion, a P/E ratio of 25.50 and a beta of 1.06. Seagate Technology Holdings plc has a 1-year low of $82.31 and a 1-year high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) earnings per share. On average, research analysts expect that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay L. Geldmacher sold 4,100 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $103.30, for a total value of $423,530.00. Following the transaction, the director now directly owns 2,852 shares in the company, valued at $294,611.60. This trade represents a 58.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,173 shares of company stock valued at $5,529,679. Insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Evercore ISI upped their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Northland Securities increased their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Rosenblatt Securities boosted their price target on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Wells Fargo & Company reduced their target price on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.94.

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.