Pinnbrook Capital Management LP Sells 39,847 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Pinnbrook Capital Management LP cut its stake in Seagate by 85.4%, selling 39,847 shares in Q3 and retaining 6,795 shares valued at $1.604 million, according to its SEC filing.
• Company insiders have been net sellers — EVP Ban Seng Teh sold 20,195 shares for about $8.93 million, and insiders disposed of 89,051 shares (~$34.4M) in the past 90 days, leaving insider ownership at 0.79%.
• Seagate beat quarterly estimates (EPS $3.11 vs. $2.77; revenue +21.5% YoY), prompting analysts to lift targets and ratings — the average price target is now $447.35 and the consensus is a "Moderate Buy."

Pinnbrook Capital Management LP decreased its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 85.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,795 shares of the data storage provider's stock after selling 39,847 shares during the period. Pinnbrook Capital Management LP's holdings in Seagate Technology were worth $1,604,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Rakuten Securities Inc. raised its stake in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 168 shares in the last quarter. MTM Investment Management LLC acquired a new stake in Seagate Technology during the second quarter worth $29,000. First Horizon Corp acquired a new stake in Seagate Technology during the third quarter worth $33,000. Raiffeisen Bank International AG bought a new stake in Seagate Technology in the 3rd quarter valued at $33,000. Finally, Physician Wealth Advisors Inc. increased its holdings in Seagate Technology by 43.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider's stock valued at $35,000 after buying an additional 45 shares during the period. Institutional investors own 92.87% of the company's stock.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 20,195 shares of the firm's stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the sale, the executive vice president directly owned 3,092 shares of the company's stock, valued at $1,367,560.68. This trade represents a 86.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Ci Lee sold 673 shares of Seagate Technology stock in a transaction on Monday, January 26th. The shares were sold at an average price of $348.85, for a total value of $234,776.05. Following the completion of the transaction, the executive vice president owned 257 shares of the company's stock, valued at approximately $89,654.45. The trade was a 72.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 89,051 shares of company stock valued at $34,430,409 in the last ninety days. 0.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on STX shares. The Goldman Sachs Group raised their price objective on shares of Seagate Technology from $310.00 to $385.00 and gave the stock a "buy" rating in a report on Wednesday, January 28th. Zacks Research raised shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 17th. Wedbush increased their price target on shares of Seagate Technology from $290.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Mizuho raised their price target on shares of Seagate Technology from $440.00 to $475.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 17th. Finally, TD Cowen lifted their price objective on Seagate Technology from $340.00 to $500.00 and gave the company a "buy" rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and an average price target of $447.35.

Seagate Technology Stock Up 2.6%

Shares of NASDAQ:STX opened at $383.71 on Friday. The company's fifty day moving average is $378.24 and its 200-day moving average is $290.46. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $459.84. The company has a market capitalization of $83.68 billion, a PE ratio of 43.41, a P/E/G ratio of 0.83 and a beta of 1.61.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The business had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.73 billion. During the same quarter last year, the company posted $2.03 EPS. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities research analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.8%. Seagate Technology's dividend payout ratio (DPR) is presently 33.48%.

Seagate Technology Profile

Seagate Technology NASDAQ: STX is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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