Insider Selling: Seagate Technology PLC (NASDAQ:STX) CEO Sells 90,000 Shares of Stock
Seagate Technology PLC (NASDAQ:STX) CEO William D. Mosley sold 90,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $54.31, for a total value of $4,887,900.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
STX traded up $0.55 during midday trading on Tuesday, hitting $55.33. The company had a trading volume of 2,814,797 shares, compared to its average volume of 3,120,664. Seagate Technology PLC has a twelve month low of $35.38 and a twelve month high of $55.33. The company has a market capitalization of $14.65 billion, a PE ratio of 11.48, a P/E/G ratio of 10.43 and a beta of 1.64. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.52 and a current ratio of 1.95. The firm’s 50-day simple moving average is $47.81 and its 200-day simple moving average is $47.00.
Seagate Technology (NASDAQ:STX) last announced its earnings results on Friday, August 2nd. The data storage provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.03. Seagate Technology had a net margin of 19.36% and a return on equity of 72.07%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the business earned $1.62 earnings per share. Seagate Technology’s quarterly revenue was down 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Seagate Technology PLC will post 4.3 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. Wedbush assumed coverage on shares of Seagate Technology in a report on Wednesday, June 26th. They issued a “neutral” rating and a $35.00 target price on the stock. They noted that the move was a valuation call. Goldman Sachs Group set a $37.00 price target on shares of Seagate Technology and gave the company a “sell” rating in a report on Sunday, July 21st. Cleveland Research initiated coverage on shares of Seagate Technology in a report on Friday, June 7th. They set a “hold” rating for the company. BidaskClub upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Cowen reaffirmed a “market perform” rating and set a $40.00 price objective (down from $47.00) on shares of Seagate Technology in a research note on Monday, August 5th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company. Seagate Technology has a consensus rating of “Hold” and an average target price of $44.95.
A number of large investors have recently bought and sold shares of STX. Hancock Whitney Corp increased its stake in shares of Seagate Technology by 11.8% in the 2nd quarter. Hancock Whitney Corp now owns 33,330 shares of the data storage provider’s stock valued at $1,571,000 after buying an additional 3,524 shares during the period. Atria Investments LLC boosted its holdings in Seagate Technology by 98.0% in the second quarter. Atria Investments LLC now owns 42,808 shares of the data storage provider’s stock valued at $1,924,000 after acquiring an additional 21,185 shares during the last quarter. Mackenzie Financial Corp increased its position in Seagate Technology by 20.3% in the second quarter. Mackenzie Financial Corp now owns 119,551 shares of the data storage provider’s stock worth $5,633,000 after purchasing an additional 20,208 shares during the period. RFG Advisory LLC acquired a new stake in Seagate Technology in the second quarter worth about $262,000. Finally, NewSquare Capital LLC increased its position in Seagate Technology by 14.8% in the second quarter. NewSquare Capital LLC now owns 31,287 shares of the data storage provider’s stock worth $1,474,000 after purchasing an additional 4,025 shares during the period. 83.74% of the stock is currently owned by hedge funds and other institutional investors.
Seagate Technology Company Profile
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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