Parkside Financial Bank & Trust Purchases 1,091 Shares of Western Digital Co. (NASDAQ:WDC)

Parkside Financial Bank & Trust increased its position in shares of Western Digital Co. (NASDAQ:WDC) by 146.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,838 shares of the data storage provider’s stock after purchasing an additional 1,091 shares during the period. Parkside Financial Bank & Trust’s holdings in Western Digital were worth $96,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WDC. Naples Money Management LLC acquired a new stake in Western Digital in the 4th quarter valued at $26,000. Lindbrook Capital LLC boosted its stake in Western Digital by 121.7% in the 4th quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock valued at $32,000 after buying an additional 337 shares in the last quarter. CVA Family Office LLC acquired a new stake in Western Digital in the 4th quarter valued at $41,000. Harvest Fund Management Co. Ltd acquired a new stake in Western Digital in the 3rd quarter valued at $41,000. Finally, Tobam acquired a new stake in Western Digital in the 4th quarter valued at $61,000. 92.51% of the stock is currently owned by institutional investors.

Western Digital Trading Down 0.2 %

NASDAQ WDC opened at $69.44 on Friday. The stock has a 50-day simple moving average of $64.73 and a 200 day simple moving average of $54.78. The company has a market capitalization of $22.63 billion, a PE ratio of -9.74 and a beta of 1.57. The company has a current ratio of 1.67, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. Western Digital Co. has a 12 month low of $32.01 and a 12 month high of $76.92.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.42. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.37 billion. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. The firm’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.57) earnings per share. Research analysts forecast that Western Digital Co. will post -2.21 EPS for the current year.

Analyst Upgrades and Downgrades

WDC has been the topic of several recent analyst reports. Cantor Fitzgerald boosted their price target on Western Digital from $70.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft raised Western Digital from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $45.00 to $65.00 in a research note on Tuesday, January 16th. TD Cowen boosted their price objective on Western Digital from $50.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Susquehanna boosted their price objective on Western Digital from $68.00 to $83.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Finally, Raymond James lowered Western Digital from an “outperform” rating to a “market perform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and an average price target of $74.32.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now directly owns 30,958 shares in the company, valued at $2,321,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Western Digital news, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now directly owns 30,958 shares in the company, valued at $2,321,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.95, for a total value of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

About Western Digital

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.