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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InThrivent Financial for Lutherans significantly reduced its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) during the third quarter, cutting its stake by 25.3%. The institutional investor sold 3,289 shares of the data storage company. Following this transaction, Thrivent Financial now holds 9,711 shares of Seagate Technology, valued at approximately $2.292 million. This portfolio adjustment comes despite Seagate Technology recently reporting robust earnings and declaring a quarterly dividend, indicating a healthy financial position. While the specific rationale for Thrivent's reduction was not disclosed, such movements are common in institutional portfolio rebalancing. The sale represents a relatively minor adjustment in the broader market context for STX.