Seagate Technology Holdings plc (NASDAQ:STX) is Slate Path Capital LP's 2nd Largest Position

Slate Path Capital LP decreased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 24.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,443,706 shares of the data storage provider's stock after selling 1,128,067 shares during the quarter. Seagate Technology makes up 5.4% of Slate Path Capital LP's investment portfolio, making the stock its 2nd largest position. Slate Path Capital LP owned approximately 1.63% of Seagate Technology worth $297,226,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Berkshire Bank boosted its holdings in shares of Seagate Technology by 2.6% in the fourth quarter. Berkshire Bank now owns 4,118 shares of the data storage provider's stock worth $355,000 after acquiring an additional 103 shares during the period. MWA Asset Management boosted its stake in Seagate Technology by 0.5% in the 4th quarter. MWA Asset Management now owns 19,636 shares of the data storage provider's stock worth $1,695,000 after purchasing an additional 104 shares during the period. JFS Wealth Advisors LLC grew its holdings in Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after buying an additional 113 shares in the last quarter. Signaturefd LLC increased its position in shares of Seagate Technology by 2.3% during the fourth quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock valued at $431,000 after buying an additional 113 shares during the period. Finally, My Legacy Advisors LLC increased its position in shares of Seagate Technology by 3.9% during the fourth quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider's stock valued at $294,000 after buying an additional 118 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Price Performance

STX traded down $0.34 during trading on Friday, hitting $82.70. 4,055,435 shares of the stock traded hands, compared to its average volume of 2,771,329. The firm has a market capitalization of $17.51 billion, a P/E ratio of 15.12 and a beta of 1.21. Seagate Technology Holdings plc has a 12-month low of $63.19 and a 12-month high of $115.32. The firm has a 50-day moving average of $84.62 and a 200 day moving average of $93.72.

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 555,677 shares in the company, valued at $46,988,047.12. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays lowered their target price on shares of Seagate Technology from $105.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Cantor Fitzgerald reiterated a "neutral" rating and issued a $120.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 22nd. Wedbush restated an "outperform" rating and set a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, January 22nd. Wells Fargo & Company decreased 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. Finally, Summit Insights upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $117.39.

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.