Tybourne Capital Management HK Ltd. Raises Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Tybourne Capital Management HK Ltd. boosted its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 25.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,994 shares of the data storage provider's stock after buying an additional 8,203 shares during the period. Seagate Technology makes up 1.2% of Tybourne Capital Management HK Ltd.'s investment portfolio, making the stock its 12th biggest holding. Tybourne Capital Management HK Ltd.'s holdings in Seagate Technology were worth $4,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Seagate Technology during the 3rd quarter valued at $26,000. Quarry LP bought a new position in Seagate Technology in the 2nd quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Seagate Technology by 2,407.1% in the 2nd 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 in the last quarter. Family Firm Inc. bought a new stake in shares of Seagate Technology during the 2nd quarter valued at about $41,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock valued at $44,000 after acquiring an additional 258 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the business's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the sale, the chief executive officer now directly owns 668,616 shares of the company's stock, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock valued at $21,892,856 over the last quarter. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Trading Down 1.6 %

Shares of STX stock traded down $1.66 during midday trading on Thursday, reaching $100.00. 1,799,245 shares of the stock were exchanged, compared to its average volume of 2,476,711. Seagate Technology Holdings plc has a 1 year low of $76.30 and a 1 year high of $115.32. The firm has a market cap of $21.15 billion, a PE ratio of 26.11 and a beta of 1.05. The company's 50 day moving average is $104.66 and its two-hundred day moving average is $101.90.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share 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%. The firm's revenue for the quarter was up 49.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) earnings per share. As a group, equities analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STX. Citigroup raised their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. StockNews.com raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Evercore ISI raised their price target on Seagate Technology from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $125.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.83.

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.