Seagate Technology Holdings plc (NASDAQ:STX) is Kerrisdale Advisers LLC's 7th Largest Position

Kerrisdale Advisers LLC lifted its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 54.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,746 shares of the data storage provider's stock after buying an additional 49,226 shares during the period. Seagate Technology makes up 4.1% of Kerrisdale Advisers LLC's investment portfolio, making the stock its 7th largest holding. Kerrisdale Advisers LLC owned about 0.07% of Seagate Technology worth $12,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JFS Wealth Advisors LLC boosted its holdings in shares of Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after acquiring an additional 113 shares during the period. Human Investing LLC acquired a new stake in Seagate Technology during the 4th quarter worth approximately $48,000. Mizuho Bank Ltd. grew its stake in shares of Seagate Technology by 140.0% in the 4th quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock valued at $52,000 after purchasing an additional 350 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Seagate Technology in the third quarter valued at approximately $54,000. Finally, S.A. Mason LLC purchased a new stake in Seagate Technology during the fourth quarter worth about $55,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on STX shares. Wells Fargo & Company decreased their price target 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. The Goldman Sachs Group decreased their price objective 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. Mizuho dropped their target price on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Bank of America reduced their price target on shares of Seagate Technology from $130.00 to $112.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Finally, Wedbush reissued an "outperform" rating and set a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $117.39.

Seagate Technology Stock Performance

NASDAQ STX traded down $0.34 during trading hours on Friday, hitting $82.70. 4,055,435 shares of the company's stock were exchanged, compared to its average volume of 2,767,850. The business's 50 day moving average is $84.62 and its 200-day moving average is $93.61. Seagate Technology Holdings plc has a 12-month low of $63.19 and a 12-month high of $115.32. The firm has a market capitalization of $17.51 billion, a P/E ratio of 15.12 and a beta of 1.21.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the sale, the chief executive officer now directly owns 555,677 shares in the company, valued at $46,988,047.12. This represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.81% of the company's stock.

About Seagate Technology

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.