Strategy Asset Managers LLC Takes $521,000 Position in Western Digital Co. (NASDAQ:WDC)

Strategy Asset Managers LLC purchased a new position in shares of Western Digital Co. (NASDAQ:WDC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,635 shares of the data storage provider’s stock, valued at approximately $521,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avantax Advisory Services Inc. acquired a new stake in shares of Western Digital during the 1st quarter worth about $243,000. Acadian Asset Management LLC acquired a new stake in Western Digital during the first quarter worth approximately $228,000. O Shaughnessy Asset Management LLC lifted its position in Western Digital by 13.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 18,141 shares of the data storage provider’s stock worth $1,238,000 after acquiring an additional 2,116 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Western Digital by 28.6% during the first quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock worth $179,000 after acquiring an additional 583 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Western Digital by 4.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 251,436 shares of the data storage provider’s stock valued at $17,167,000 after purchasing an additional 11,135 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Insider Transactions at Western Digital

In other Western Digital news, EVP Robert Soderbery sold 30,767 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total transaction of $2,092,463.67. Following the sale, the executive vice president now owns 135,398 shares in the company, valued at approximately $9,208,417.98. The trade was a 18.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 2,900 shares of Western Digital stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total value of $178,292.00. Following the transaction, the senior vice president now owns 37,448 shares of the company’s stock, valued at $2,302,303.04. The trade was a 7.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,144 shares of company stock worth $13,281,983. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on WDC. The Goldman Sachs Group reduced their price target on Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Barclays increased their target price on shares of Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price target on shares of Western Digital in a report on Friday, October 25th. Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research note on Friday, October 25th. Finally, 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. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

Western Digital Trading Down 2.2 %

Shares of NASDAQ:WDC opened at $63.84 on Thursday. 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 Co. has a 1 year low of $46.05 and a 1 year high of $81.55. The company has a market cap of $22.07 billion, a P/E ratio of 37.55 and a beta of 1.40. The stock’s fifty day moving average price is $66.40 and its 200-day moving average price is $69.18.

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

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.