ValueAct Holdings reduced stake in Seagate Technology PLC

ValueAct Holdings reduced stake in Seagate Technology PLC

© Reuters.  ValueAct Holdings reduced stake in Seagate Technology PLC © Reuters. ValueAct Holdings reduced stake in Seagate Technology PLC

On the 4th of January, ValueAct Holdings sold 1.2 million Seagate Technology PLC (STX) shares for $70 million at an average price of $60.47 per share. Shares of Seagate Technology PLC are up 3.46% since the transaction.

ValueAct Holdings's holding in Seagate Technology PLC decreased to about 3.9 million shares with the transaction.

ValueAct Holdings first bought Seagate Technology PLC stock in the second quarter of 2016.

Other investors who also reduced their Seagate Technology PLC shares include California State Teachers Retirement System, Citigroup (NYSE:C), and the T. Rowe Price Equity Income Fund. In contrast, Eaton Vance (NYSE:EV) Management, NWQ Investment Management Co., and Parnassus Investments added to STX shares, while Millennium Management established new holdings in Seagate Technology PLC.

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