Nebula Research & Development LLC Makes New $3.82 Million Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Nebula Research & Development LLC purchased a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,207 shares of the data storage provider's stock, valued at approximately $3,816,000. Seagate Technology makes up approximately 0.4% of Nebula Research & Development LLC's holdings, making the stock its 13th largest position.

Several other institutional investors also recently modified their holdings of STX. Vanguard Group Inc. raised its stake in Seagate Technology by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after purchasing an additional 1,814,821 shares during the period. Sanders Capital LLC grew its holdings in shares of Seagate Technology by 1.0% during the 4th quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock valued at $1,426,717,000 after acquiring an additional 162,561 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Seagate Technology by 56.5% during the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock valued at $1,348,262,000 after acquiring an additional 5,640,443 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Seagate Technology by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock valued at $370,013,000 after acquiring an additional 132,713 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Seagate Technology by 14.6% during the 4th quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock valued at $238,348,000 after acquiring an additional 352,300 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $7.17 during trading on Wednesday, hitting $88.77. 7,414,386 shares of the stock were exchanged, compared to its average volume of 2,805,084. Seagate Technology Holdings plc has a 1-year low of $63.19 and a 1-year high of $115.32. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 16.23 and a beta of 1.21. The company's fifty day simple moving average is $83.79 and its 200-day simple moving average is $93.24.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. Seagate Technology's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. On average, research analysts forecast that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on STX. UBS Group boosted their price target on shares of Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday. Northland Securities restated an "outperform" rating and set a $160.00 price target (up from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their price target on shares of Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday. StockNews.com downgraded shares of Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Benchmark raised Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price target for the company in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and an average price target of $114.89.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the sale, the chief executive officer now owns 555,677 shares of the company's stock, valued at $46,988,047.12. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is owned by insiders.

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.