Baader Bank Aktiengesellschaft Sells 3,420 Shares of Western Digital Co. (NASDAQ:WDC)

Baader Bank Aktiengesellschaft lessened its holdings in Western Digital Co. (NASDAQ:WDC) by 32.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,259 shares of the data storage provider’s stock after selling 3,420 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Western Digital were worth $541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC acquired a new stake in Western Digital during the 1st quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new stake in Western Digital during the 1st quarter worth approximately $30,000. SOA Wealth Advisors LLC. acquired a new stake in Western Digital during the 1st quarter worth approximately $31,000. Naples Money Management LLC acquired a new stake in Western Digital during the 4th quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. acquired a new stake in Western Digital during the 1st quarter worth approximately $36,000. Institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WDC. Wedbush lifted their price objective on shares of Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Argus lifted their price objective on shares of Western Digital from $68.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 29th. StockNews.com upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Summit Insights downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Evercore ISI restated an “outperform” rating and set a $85.00 target price on shares of Western Digital in a report on Thursday. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and an average target price of $84.18.

Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 416 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total transaction of $29,902.08. Following the completion of the sale, the senior vice president now owns 30,321 shares of the company’s stock, valued at approximately $2,179,473.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Robert Soderbery sold 26,853 shares of Western Digital stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the sale, the executive vice president now owns 144,623 shares of the company’s stock, valued at approximately $10,626,898.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 416 shares of Western Digital stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total transaction of $29,902.08. Following the transaction, the senior vice president now directly owns 30,321 shares in the company, valued at $2,179,473.48. The disclosure for this sale can be found here. Insiders sold a total of 39,642 shares of company stock valued at $2,714,014 in the last quarter. 0.28% of the stock is currently owned by company insiders.

Western Digital Trading Up 3.2 %

Western Digital stock traded up $1.99 during mid-day trading on Thursday, hitting $63.50. 5,655,366 shares of the stock were exchanged, compared to its average volume of 6,617,470. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.51. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $81.55. The firm’s fifty day simple moving average is $72.04 and its two-hundred day simple moving average is $68.30. The stock has a market capitalization of $20.73 billion, a price-to-earnings ratio of -12.72 and a beta of 1.37.

Western Digital Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.