Stanley Laman Group Ltd. Sells 14,904 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Stanley Laman Group Ltd. cut its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,596 shares of the data storage provider's stock after selling 14,904 shares during the period. Stanley Laman Group Ltd.'s holdings in Seagate Technology were worth $2,900,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sequoia Financial Advisors LLC boosted its holdings in shares of Seagate Technology by 3.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider's stock worth $281,000 after buying an additional 89 shares during the last quarter. Berkshire Bank boosted its stake in Seagate Technology by 2.6% in the fourth quarter. Berkshire Bank now owns 4,118 shares of the data storage provider's stock valued at $355,000 after acquiring an additional 103 shares during the last quarter. MWA Asset Management grew its position in shares of Seagate Technology by 0.5% during the 4th quarter. MWA Asset Management now owns 19,636 shares of the data storage provider's stock valued at $1,695,000 after acquiring an additional 104 shares during the period. My Legacy Advisors LLC increased its stake in shares of Seagate Technology by 3.9% during the 4th quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider's stock worth $294,000 after purchasing an additional 118 shares during the last quarter. Finally, Yousif Capital Management LLC raised its holdings in shares of Seagate Technology by 0.4% in the 4th quarter. Yousif Capital Management LLC now owns 27,594 shares of the data storage provider's stock worth $2,382,000 after purchasing an additional 121 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on STX shares. Wedbush reissued an "outperform" rating and set a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, January 22nd. Morgan Stanley cut their price target on Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a research note on Tuesday, January 21st. UBS Group boosted their price objective on Seagate Technology from $95.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Summit Insights upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Finally, Bank of America boosted their price target on shares of Seagate Technology from $124.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.56.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded down $0.01 on Monday, hitting $101.47. The company's stock had a trading volume of 2,234,988 shares, compared to its average volume of 3,666,116. The company has a market capitalization of $21.48 billion, a PE ratio of 18.55 and a beta of 1.07. The company has a 50-day simple moving average of $94.57 and a 200 day simple moving average of $99.62. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.84%. Seagate Technology's payout ratio is presently 52.65%.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the transaction, the chief executive officer now directly owns 622,497 shares of the company's stock, valued at approximately $64,011,366.51. This trade represents a 3.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares of the company's stock, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,891 shares of company stock valued at $2,146,848 in the last quarter. 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.