10,000 Shares in Western Digital Co. (NASDAQ:WDC) Bought by BBR Partners LLC

BBR Partners LLC bought a new position in Western Digital Co. (NASDAQ:WDC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the data storage provider’s stock, valued at approximately $683,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP grew its position in shares of Western Digital by 124.2% in the third quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider’s stock valued at $1,462,000 after purchasing an additional 11,860 shares during the last quarter. KBC Group NV boosted its stake in Western Digital by 11.2% during the 3rd quarter. KBC Group NV now owns 277,010 shares of the data storage provider’s stock valued at $18,917,000 after purchasing an additional 27,849 shares during the period. Janney Montgomery Scott LLC grew its holdings in Western Digital by 137.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 43,575 shares of the data storage provider’s stock valued at $2,976,000 after buying an additional 25,262 shares during the last quarter. Swedbank AB grew its holdings in Western Digital by 19.7% in the 3rd quarter. Swedbank AB now owns 291,777 shares of the data storage provider’s stock valued at $19,925,000 after buying an additional 47,965 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in Western Digital in the 2nd quarter worth approximately $13,260,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Stock Down 2.1 %

NASDAQ WDC opened at $71.50 on Thursday. The stock’s 50 day simple moving average is $66.73 and its 200 day simple moving average is $69.07. Western Digital Co. has a one year low of $46.42 and a one year high of $81.55. The firm has a market cap of $24.72 billion, a PE ratio of 42.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the company posted ($1.97) earnings per share. The firm’s quarterly revenue was up 48.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price objective on shares of Western Digital in a research note on Tuesday. BNP Paribas reduced their price target on shares of Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Citigroup dropped their price objective on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Evercore ISI reiterated an “outperform” rating and issued a $85.00 target price on shares of Western Digital in a research note on Thursday, August 15th. Finally, TD Cowen lowered their price target on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

Insider Activity

In related news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $72.58, for a total value of $5,443,500.00. Following the completion of the transaction, the chief executive officer now owns 821,630 shares of the company’s stock, valued at approximately $59,633,905.40. This trade represents a 8.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares of the company’s stock, valued at approximately $2,020,121.37. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,963 shares of company stock valued at $13,154,039 in the last 90 days. 0.30% of the stock is owned by company insiders.

Western Digital Company 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.