Insider Selling: Seagate Technology (NASDAQ:STX) CEO Sells $2,456,208.37 in Stock

Key Points

• CEO William Mosley sold 2,849 Seagate shares for approximately $2.46 million at an average price of $862.13, reducing his position by 0.95% while retaining 296,449 shares.
• Seagate reported quarterly EPS of $5.71, beating estimates by $0.61, while revenue rose 48.5% year over year to $3.63 billion. The company also issued quarterly dividend guidance of $0.74 per share.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $986, compared with the stock’s reported trading price of $829.73.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CEO William Mosley sold 2,849 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $862.13, for a total transaction of $2,456,208.37. Following the completion of the sale, the chief executive officer owned 296,449 shares in the company, valued at $255,577,576.37. The trade was a 0.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Seagate Technology Stock Performance

Shares of STX traded down $32.60 during mid-day trading on Friday, reaching $829.73. 3,838,915 shares of the company's stock traded hands, compared to its average volume of 4,338,222. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The business's 50-day moving average price is $848.58 and its 200-day moving average price is $724.71. The stock has a market capitalization of $188.67 billion, a P/E ratio of 59.78 and a beta of 2.06. Seagate Technology Holdings PLC has a 12 month low of $193.32 and a 12 month high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was up 48.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities 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 declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology's dividend payout ratio (DPR) is 21.33%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Rakuten Securities Inc. lifted its holdings in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 168 shares during the last quarter. Retirement Wealth Solutions LLC grew its stake in shares of Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider's stock worth $28,000 after purchasing an additional 12 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock worth $31,000 after purchasing an additional 15 shares during the last quarter. Quarry LP bought a new stake in shares of Seagate Technology in the 4th quarter worth approximately $31,000. Finally, WealthCollab LLC raised its holdings in shares of Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock worth $36,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Analysts Set New Price Targets

STX has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Seagate Technology in a report on Wednesday, June 24th. Rosenblatt Securities raised their target price on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Melius Research initiated coverage on shares of Seagate Technology in a research report on Monday, June 29th. They set a "buy" rating and a $1,600.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $1,300.00 price target on shares of Seagate Technology in a research note on Wednesday, July 29th. Finally, Wedbush increased their price objective on shares of Seagate Technology from $825.00 to $1,000.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $986.00.

Seagate Technology Company Profile

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

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

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