Wrapmanager Inc. Sells 1,130 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Wrapmanager Inc. reduced its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 22.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,824 shares of the data storage provider’s stock after selling 1,130 shares during the quarter. Wrapmanager Inc.’s holdings in Seagate Technology were worth $326,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after buying an additional 1,485,937 shares in the last quarter. FMR LLC raised its position in shares of Seagate Technology by 13.1% during the third quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock worth $918,664,000 after purchasing an additional 1,612,264 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Seagate Technology by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock worth $288,960,000 after purchasing an additional 127,214 shares in the last quarter. Invesco Ltd. grew its position in Seagate Technology by 0.4% in the 3rd quarter. Invesco Ltd. now owns 2,804,277 shares of the data storage provider’s stock valued at $184,942,000 after purchasing an additional 10,697 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Seagate Technology by 24.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock valued at $158,950,000 after purchasing an additional 470,592 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the completion of the transaction, the senior vice president now owns 17,767 shares in the company, valued at $1,599,030. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group raised their price objective on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company boosted their price target on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Wedbush upgraded shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Wednesday, May 1st. Benchmark restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Finally, Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $73.00 to $115.00 in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $94.53.

Seagate Technology Trading Up 1.8 %

Shares of NASDAQ:STX traded up $1.62 on Thursday, reaching $91.67. 1,740,063 shares of the company traded hands, compared to its average volume of 2,751,036. Seagate Technology Holdings plc has a 52 week low of $56.02 and a 52 week high of $101.26. The business’s 50-day simple moving average is $89.12 and its 200 day simple moving average is $84.05. The stock has a market capitalization of $19.25 billion, a P/E ratio of -71.06, a price-to-earnings-growth ratio of 242.66 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the company posted ($0.43) EPS. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. Sell-side analysts expect that Seagate Technology Holdings plc will post 0.3 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s payout ratio is currently -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.