Saturday, June 25, 2022

Selling Buzz: Seagate Technology Holdings plc [STX] Director LUCZO STEPHEN J sells 50,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Seagate Technology Holdings plc shares valued at $5,163,235 were sold by LUCZO STEPHEN J on Mar 04. At $103.26 per share, LUCZO STEPHEN J sold 50,000 shares. The insider’s holdings dropped to 225,941 shares worth approximately $16.18 million following the completion of this transaction.

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Also, Romano Gianluca sold 20,495 shares, netting a total of over 2,200,394 in proceeds. Following the sale of shares at $107.36 each, the insider now holds 19,391 shares.

Before that, ValueAct Holdings, L.P. had sold 272,297 shares from its account. In a trade valued at $29,410,799, the Director traded Seagate Technology Holdings plc shares for $108.01 each. Upon closing the transaction, the insider’s holdings decreased to 272,297 shares, worth approximately $962.09 million.

As published in a research note from Susquehanna on April 14, 2022, Seagate Technology Holdings plc [STX] has been rated down from a Neutral to a Negative and the price target has been revised to $65 from $93. This represents a -10.15% premium over Wednesday’s closing price. Analysts at Summit Insights upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late January. As of January 27, 2022, Wells Fargo has reiterated its “an Equal weight” rating for STX. Earlier on January 27, 2022, The Benchmark Company resumed its rating. Their recommendation was “a Buy” for STX stock.

Analyzing STX’s Price Performance

On Wednesday, Seagate Technology Holdings plc [NASDAQ: STX] plunged -1.51% to $71.60. The stock’s lowest price that day was $71.16, but it reached a high of $72.96 in the same session. During the last five days, there has been a drop of approximately -5.33%. Over the course of the year, Seagate Technology Holdings plc shares have dropped approximately -36.63%. Shares of the company reached a 52-week high of $117.67 on 01/05/22 and a 52-week low of $70.11 on 06/16/22. A 50-day SMA is recorded $81.52, while a 200-day SMA reached $93.43. Nevertheless, trading volume fell to 3.19 million shares from 2.08 million shares the previous day.

Support And Resistance Levels for Seagate Technology Holdings plc (STX)

According to the 24-hour chart, there is a support level at 70.85, which, if violated, would cause prices to drop to 70.11. In the upper region, resistance lies at 72.65. The next price resistance is at 73.71. RSI (Relative Strength Index) is 33.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.12, which suggests the price will decrease in the coming days. Percent R is at 90.18%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Seagate Technology Holdings plc (STX)?

According to The Vanguard Group, Inc. filings, the company currently owns 23,817,418 shares, which is about 11.09% of the total STX shares outstanding. The investor’s shares have appreciated by 82,638 from its previous 13-F filing of 23734780.0 shares. With the completion of the sale, ValueAct Capital Management LP’s stake is now worth $1,137,716,717. JPMorgan Investment Management, I acquire a 7.11% interest valued at $871.87 million while BlackRock Fund Advisors sold a -712,116 stake. A total of -1,294,281 shares of Seagate Technology Holdings plc were sold by SSgA Funds Management, Inc. during the quarter, and -365,500 were sold by Fidelity Management & Research Co. In its current portfolio, ClearBridge Investments LLC holds 6,765,247 shares valued at $572.81 million.

In terms of Seagate Technology Holdings plc share price expectations, FactSet research, analysts set an average price target of $100.14 in the next 12 months, up nearly 37.55% from the previous closing price of $72.70. Analysts anticipate Seagate Technology Holdings plc stock to reach $130.00 by 2022, with the lowest price target being $67.00. In spite of this, 26 analysts ranked Seagate Technology Holdings plc stock as an Overweight at the end of 2022. On January 27, 2022, Stifel assigned a price target of “a Buy” to the stock and reiterated coverage with a $125.

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