Seagate Technology Target of Unusually Large Options Trading (NASDAQ:STX)

Seagate Technology Holdings plc (NASDAQ:STX) was the recipient of unusually large options trading on Wednesday. Stock investors bought 12,152 put options on the stock. This is an increase of approximately 82% compared to the typical volume of 6,665 put options.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd. Benchmark raised Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $117.39.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the sale, the chief executive officer now owns 555,677 shares of the company’s stock, valued at approximately $46,988,047.12. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.81% of the company’s stock.

Institutional Trading of Seagate Technology

Institutional investors have recently modified their holdings of the company. Ameriflex Group Inc. purchased a new position in shares of Seagate Technology in the 4th quarter valued at $26,000. Elequin Capital LP acquired a new position in Seagate Technology in the 4th quarter worth $27,000. Fourth Dimension Wealth LLC acquired a new position in Seagate Technology during the 4th quarter worth $27,000. Golden State Wealth Management LLC lifted its position in shares of Seagate Technology by 2,200.0% during the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock worth $39,000 after purchasing an additional 440 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Seagate Technology stock opened at $78.09 on Thursday. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $115.32. The stock has a fifty day moving average of $85.40 and a two-hundred day moving average of $94.06. The company has a market capitalization of $16.53 billion, a price-to-earnings ratio of 14.28 and a beta of 1.21.

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.