Park Avenue Securities LLC Purchases 333 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Park Avenue Securities LLC increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,012 shares of the data storage provider’s stock after purchasing an additional 333 shares during the period. Park Avenue Securities LLC’s holdings in Seagate Technology were worth $519,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Seagate Technology during the third quarter valued at approximately $26,000. Quarry LP bought a new position in shares of Seagate Technology during the 2nd quarter worth approximately $27,000. Advisors Asset Management Inc. boosted its stake in Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after buying an additional 258 shares in the last quarter. JFS Wealth Advisors LLC grew its position in Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 293 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in Seagate Technology during the third quarter worth $53,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Price Performance

STX opened at $108.42 on Friday. The firm has a 50 day simple moving average of $94.55 and a 200 day simple moving average of $100.33. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32. The company has a market cap of $22.93 billion, a price-to-earnings ratio of 19.82 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 14.67% and a negative return on equity of 58.59%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company posted ($0.34) EPS. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. As a group, analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is 52.65%.

Insiders Place Their Bets

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.53, for a total value of $1,990,600.00. Following the completion of the sale, the chief executive officer now owns 642,497 shares of the company’s stock, valued at $63,947,726.41. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,073 shares of company stock worth $5,106,149. Insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on STX shares. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday. The Goldman Sachs Group reduced their price target on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Barclays raised their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday. Northland Securities reissued an “outperform” rating and issued a $160.00 target price (up from $144.00) on shares of Seagate Technology in a report on Wednesday. Finally, Bank of America raised their price target on Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.56.

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.