Pathstone Holdings LLC Sells 4,099 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Pathstone Holdings LLC lowered its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 13.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,427 shares of the data storage provider’s stock after selling 4,099 shares during the quarter. Pathstone Holdings LLC’s holdings in Seagate Technology were worth $2,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Seagate Technology in the 3rd quarter worth about $26,000. Quarry LP purchased a new stake in shares of Seagate Technology in the second quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of 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 valued at $36,000 after acquiring an additional 337 shares during the period. Family Firm Inc. purchased a new position in Seagate Technology during the second quarter valued at approximately $41,000. Finally, JFS Wealth Advisors LLC increased its holdings in Seagate Technology by 232.5% during 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 period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Up 1.7 %

Shares of Seagate Technology stock opened at $101.36 on Tuesday. The company’s fifty day simple moving average is $104.69 and its two-hundred day simple moving average is $101.79. Seagate Technology Holdings plc has a 12-month low of $76.30 and a 12-month high of $115.32. The firm has a market cap of $21.44 billion, a PE ratio of 26.46 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 49.1% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is currently 73.11%.

Analyst Ratings Changes

Several research analysts have commented on STX shares. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Rosenblatt Securities boosted their target price on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Citigroup raised their price target on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Northland Securities boosted their price objective on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 4,872 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the transaction, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at $1,096,590. This represents a 32.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,820 shares of company stock valued at $21,892,856 over the last quarter. 0.81% of the stock is owned by company insiders.

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.