Insider Selling: Seagate Technology (NASDAQ:STX) CEO Sells $17,376,900.66 in Stock

Key Points

• Seagate CEO William Mosley sold 18,998 shares for approximately $17.4 million under a pre-arranged Rule 10b5-1 trading plan, reducing his direct ownership by 4.85% to 373,110 shares.
• Seagate shares fell 10.2% to $848.99, despite the company reporting quarterly earnings and revenue above analyst expectations and guiding for first-quarter fiscal 2027 EPS of $7.10–$7.50.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $986, while investors weigh strong AI-driven storage demand against potential future competition and increased HDD supply.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CEO William Mosley sold 18,998 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $914.67, for a total value of $17,376,900.66. Following the completion of the sale, the chief executive officer directly owned 373,110 shares of the company's stock, valued at $341,272,523.70. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Trading Down 10.2%

NASDAQ:STX traded down $96.58 during mid-day trading on Friday, hitting $848.99. 13,517,477 shares of the stock traded hands, compared to its average volume of 4,352,583. The stock has a market capitalization of $193.05 billion, a price-to-earnings ratio of 61.17 and a beta of 2.06. Seagate Technology Holdings PLC has a 52 week low of $209.00 and a 52 week high of $1,145.00. The firm's 50 day moving average is $854.72 and its two-hundred day moving average is $776.28. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company's revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities research analysts predict that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology's dividend payout ratio is 21.33%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on STX shares. TD Cowen boosted their price target on Seagate Technology from $850.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Wall Street Zen raised Seagate Technology from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 26th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,300.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. Fox Advisors downgraded Seagate Technology from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 22nd. Finally, Susquehanna raised their price target on Seagate Technology from $775.00 to $875.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $986.00.

Trending Headlines about Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: AI data-center growth continues to support demand for high-capacity hard drives, and Seagate has benefited from record margins and capacity that was reportedly close to fully allocated. The company remains positioned to supply the rapidly expanding need to store AI-generated data. AI Needs Massive Storage. Seagate Is Ready
• Positive Sentiment: Seagate’s recent operating momentum has been substantial: quarterly revenue and earnings exceeded expectations, with revenue rising strongly year over year. That performance demonstrates the benefit of tight industry supply and robust AI-related demand.
• Neutral Sentiment: Seagate’s stock had already risen more than 270% over the past year, prompting debate over whether its valuation fully reflects the AI-storage opportunity. Investors are weighing continued demand growth against the risk that the current shortage-driven earnings surge is temporary. Seagate Is Selling Into a Shortage. What Happens When It Ends?
• Negative Sentiment: Toshiba reportedly plans to double HDD production capacity for drives used in AI data centers during fiscal 2027, while other reports described an ambition to substantially increase market share. The potential influx of competing supply threatens to reduce scarcity, limit future price increases, and intensify competition for Seagate and Western Digital. Seagate Stock and Western Digital Tumble as AI Shortage Shows Signs of Easing

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in STX. Arrowstreet Capital Limited Partnership grew its position in shares of Seagate Technology by 8.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider's stock worth $879,338,000 after buying an additional 243,551 shares during the last quarter. Wellington Management Group LLP raised its holdings in Seagate Technology by 2,655.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider's stock valued at $2,329,641,000 after acquiring an additional 2,326,538 shares during the last quarter. Deutsche Bank AG lifted its stake in Seagate Technology by 102.0% in the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock worth $440,614,000 after purchasing an additional 807,962 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Seagate Technology by 18.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,241,951 shares of the data storage provider's stock worth $342,021,000 after purchasing an additional 196,123 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Seagate Technology by 3,872.1% in the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider's stock valued at $378,985,000 after purchasing an additional 943,170 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology Company Profile

Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.

The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.

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