Insider Selling: Western Digital Co. (NASDAQ:WDC) SVP Sells 313 Shares of Stock

by · The Cerbat Gem

Western Digital Co. (NASDAQ:WDC – Get Free Report) SVP Gene M. Zamiska sold 313 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $72.63, for a total transaction of $22,733.19. Following the completion of the sale, the senior vice president now owns 28,383 shares in the company, valued at approximately $2,061,457.29. This trade represents a 1.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Western Digital Trading Up 0.6 %

Shares of NASDAQ WDC traded up $0.44 during midday trading on Monday, hitting $73.43. The company’s stock had a trading volume of 5,323,612 shares, compared to its average volume of 6,070,697. The business’s 50 day moving average is $67.10 and its two-hundred day moving average is $69.04. Western Digital Co. has a 12-month low of $46.47 and a 12-month high of $81.55. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The firm has a market cap of $25.39 billion, a P/E ratio of 42.94 and a beta of 1.42.

Western Digital (NASDAQ:WDC – Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.55 by $0.23. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm’s revenue was up 48.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.97) EPS. As a group, equities research analysts expect that Western Digital Co. will post 6.56 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on WDC shares. Citigroup cut their price target on Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Barclays raised their price target on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, October 25th. TD Cowen cut their price objective on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Susquehanna upped their target price on shares of Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, UBS Group reduced their price target on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.71.

View Our Latest Research Report on WDC

Institutional Investors Weigh In On Western Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its holdings in Western Digital by 6.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,401 shares of the data storage provider’s stock valued at $300,000 after buying an additional 280 shares during the period. Tidal Investments LLC raised its position in shares of Western Digital by 25.4% in the 1st quarter. Tidal Investments LLC now owns 4,916 shares of the data storage provider’s stock worth $335,000 after acquiring an additional 997 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Western Digital by 173.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,334 shares of the data storage provider’s stock worth $404,000 after purchasing an additional 3,381 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Western Digital by 15.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock valued at $116,000 after purchasing an additional 206 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of Western Digital by 10.7% during the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after purchasing an additional 213 shares during the last quarter. 92.51% of the stock is owned by institutional investors.

Western Digital Company Profile

(Get Free Report)

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.

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