Envestnet Asset Management Inc. Lowers Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Envestnet Asset Management Inc. lessened its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 32.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,446 shares of the data storage provider's stock after selling 42,484 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Seagate Technology were worth $7,548,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JFS Wealth Advisors LLC boosted its holdings in shares of Seagate Technology by 27.0% in the 4th 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 last quarter. Human Investing LLC purchased a new position in shares of Seagate Technology during the 4th quarter valued at about $48,000. Mizuho Bank Ltd. lifted its holdings 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 buying an additional 350 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Seagate Technology in the third quarter worth about $54,000. Finally, S.A. Mason LLC acquired a new stake in Seagate Technology during the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on STX shares. Morgan Stanley dropped their price objective on Seagate Technology from $133.00 to $129.00 and set an "overweight" rating on the stock in a report on Tuesday, January 21st. The Goldman Sachs Group reduced their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of Seagate Technology from $120.00 to $110.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Benchmark raised shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price target on the stock in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $120.00 price objective on shares of Seagate Technology in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $117.39.

Seagate Technology Stock Performance

Shares of STX traded up $4.48 during midday trading on Thursday, hitting $82.57. 2,829,472 shares of the stock were exchanged, compared to its average volume of 2,782,042. The firm has a market cap of $17.48 billion, a P/E ratio of 15.10 and a beta of 1.21. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $115.32. The stock has a fifty day simple moving average of $85.40 and a 200 day simple moving average of $94.06.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value 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 approximately $46,988,047.12. This represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.81% of the stock is owned by 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.