SteelPeak Wealth LLC Buys New Shares in Western Digital Co. (NASDAQ:WDC)

SteelPeak Wealth LLC purchased a new position in shares of Western Digital Co. (NASDAQ:WDC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,136 shares of the data storage provider’s stock, valued at approximately $238,000.

Other large investors also recently modified their holdings of the company. John G Ullman & Associates Inc. raised its holdings in Western Digital by 30.3% during the fourth quarter. John G Ullman & Associates Inc. now owns 103,750 shares of the data storage provider’s stock worth $5,433,000 after acquiring an additional 24,100 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Western Digital during the 1st quarter worth approximately $1,242,000. Bessemer Group Inc. boosted its holdings in shares of Western Digital by 28.6% in the 1st quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock valued at $179,000 after buying an additional 583 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of Western Digital by 2.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 14,113 shares of the data storage provider’s stock valued at $739,000 after buying an additional 404 shares in the last quarter. Finally, AGF Management Ltd. acquired a new position in Western Digital during the fourth quarter worth $480,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Up 3.2 %

Shares of WDC stock traded up $1.99 during mid-day trading on Thursday, reaching $63.50. 5,655,366 shares of the stock traded hands, compared to its average volume of 6,617,470. The stock’s fifty day simple moving average is $71.80 and its two-hundred day simple moving average is $68.26. Western Digital Co. has a 1-year low of $35.62 and a 1-year high of $81.55. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.51. The company has a market cap of $20.73 billion, a price-to-earnings ratio of -12.78 and a beta of 1.37.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup increased their price target on shares of Western Digital from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Robert W. Baird lifted their price target on Western Digital from $65.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Morgan Stanley upped their price objective on Western Digital from $83.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Evercore ISI reiterated an “outperform” rating and set a $85.00 target price on shares of Western Digital in a research note on Thursday. Finally, StockNews.com raised Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Western Digital has a consensus rating of “Moderate Buy” and a consensus target price of $84.18.

Insider Buying and Selling

In related news, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction on Monday, August 5th. The shares were 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 of the company’s stock, valued at $7,331,098.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 30,321 shares in the company, valued at approximately $2,179,473.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the transaction, the executive vice president now directly owns 128,413 shares in the company, valued at $7,331,098.17. The disclosure for this sale can be found here. Insiders have sold a total of 39,642 shares of company stock worth $2,714,014 in the last ninety days. Company 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.