Insider Selling: Seagate Technology PLC (NASDAQ:STX) EVP Sells 76,393 Shares of Stock

Seagate Technology PLC (NASDAQ:STX) EVP James J. Murphy sold 76,393 shares of Seagate Technology stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $57.67, for a total transaction of $4,405,584.31. Following the completion of the transaction, the executive vice president now owns 128,377 shares of the company’s stock, valued at $7,403,501.59. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

STX opened at $58.79 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.58 and a quick ratio of 1.17. The firm has a market capitalization of $15.15 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 10.06 and a beta of 1.63. The company has a fifty day moving average price of $54.94 and a 200-day moving average price of $49.07. Seagate Technology PLC has a one year low of $35.38 and a one year high of $58.80.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Friday, November 1st. The data storage provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.03. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. Seagate Technology had a net margin of 17.66% and a return on equity of 61.26%. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.70 earnings per share. On average, analysts expect that Seagate Technology PLC will post 4.84 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the business. Foundations Investment Advisors LLC increased its position in shares of Seagate Technology by 26.3% in the second quarter. Foundations Investment Advisors LLC now owns 26,218 shares of the data storage provider’s stock valued at $1,246,000 after acquiring an additional 5,458 shares during the period. Empirical Finance LLC increased its position in shares of Seagate Technology by 0.9% in the second quarter. Empirical Finance LLC now owns 53,296 shares of the data storage provider’s stock valued at $2,511,000 after acquiring an additional 464 shares during the period. PFS Investments Inc. increased its position in shares of Seagate Technology by 210.6% in the second quarter. PFS Investments Inc. now owns 24,085 shares of the data storage provider’s stock valued at $1,138,000 after acquiring an additional 16,330 shares during the period. Kwmg LLC increased its position in shares of Seagate Technology by 4.1% in the second quarter. Kwmg LLC now owns 56,659 shares of the data storage provider’s stock valued at $2,670,000 after acquiring an additional 2,229 shares during the period. Finally, Windward Capital Management Co. CA increased its position in shares of Seagate Technology by 0.9% in the second quarter. Windward Capital Management Co. CA now owns 50,036 shares of the data storage provider’s stock valued at $2,358,000 after acquiring an additional 467 shares during the period. 85.20% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on STX shares. UBS Group lifted their price objective on shares of Seagate Technology from $38.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, November 4th. Peel Hunt reiterated a “buy” rating on shares of Seagate Technology in a research note on Tuesday, October 22nd. Morgan Stanley set a $61.00 price objective on shares of Seagate Technology and gave the company a “buy” rating in a research note on Monday, November 4th. BidaskClub upgraded shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, FBN Securities lifted their price objective on shares of Seagate Technology from $55.00 to $60.00 in a research note on Thursday, September 19th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Seagate Technology presently has an average rating of “Hold” and a consensus target price of $49.10.

About Seagate Technology

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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Insider Buying and Selling by Quarter for Seagate Technology (NASDAQ:STX)

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