53,202 Shares in Western Digital Co. (NASDAQ:WDC) Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in shares of Western Digital Co. (NASDAQ:WDC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 53,202 shares of the data storage provider’s stock, valued at approximately $4,031,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in Western Digital during the 1st quarter worth $25,000. Fairfield Financial Advisors LTD acquired a new position in Western Digital during the 2nd quarter worth $29,000. Fidelis Capital Partners LLC acquired a new position in Western Digital during the 1st quarter worth $30,000. 1620 Investment Advisors Inc. acquired a new position in Western Digital during the 2nd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Western Digital during the 2nd quarter worth $34,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WDC has been the subject of several analyst reports. Wedbush upped their price objective on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Western Digital in a research report on Tuesday, September 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price objective on shares of Western Digital in a research report on Thursday, August 1st. Finally, TD Cowen lowered their price objective on Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Friday. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average price target of $83.05.

Western Digital Stock Down 1.4 %

WDC opened at $64.09 on Tuesday. The business has a 50 day moving average price of $65.72 and a two-hundred day moving average price of $69.48. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The company has a market cap of $20.93 billion, a PE ratio of -12.90 and a beta of 1.39. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. As a group, research analysts anticipate that Western Digital Co. will post 7.75 EPS for the current year.

Insider Transactions at Western Digital

In related news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the sale, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the sale, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total value of $178,292.00. Following the completion of the sale, the senior vice president now owns 37,448 shares in the company, valued at approximately $2,302,303.04. The disclosure for this sale can be found here. In the last three months, insiders sold 17,955 shares of company stock valued at $1,053,560. Corporate insiders own 0.28% of the company’s stock.

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.