Edmond DE Rothschild Holding S.A. Invests $1.60 Million in Western Digital Co. (NASDAQ:WDC)

Edmond DE Rothschild Holding S.A. purchased a new position in Western Digital Co. (NASDAQ:WDC) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 23,407 shares of the data storage provider’s stock, valued at approximately $1,597,000.

Other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in shares of Western Digital in the 1st quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new stake in shares of Western Digital in the 1st quarter worth approximately $30,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Western Digital in the 1st quarter worth approximately $31,000. Naples Money Management LLC acquired a new stake in Western Digital during the fourth quarter valued at approximately $26,000. Finally, Sunbelt Securities Inc. acquired a new stake in Western Digital during the first quarter valued at approximately $36,000. 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 recent research reports. Bank of America increased their target price on shares of Western Digital from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Wedbush reissued an “outperform” rating and set a $85.00 target price on shares of Western Digital in a research note on Friday, April 26th. Loop Capital increased their target price on shares of Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Raymond James lowered shares of Western Digital from an “outperform” rating to a “market perform” rating in a research note on Monday, April 22nd. Finally, Benchmark raised shares of Western Digital from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.52.

Insider Activity at Western Digital

In related news, EVP Robert Soderbery sold 26,853 shares of Western Digital stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the sale, the executive vice president now owns 144,623 shares of the company’s stock, valued at approximately $10,626,898.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Robert Soderbery sold 26,853 shares of Western Digital stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the sale, the executive vice president now owns 144,623 shares of the company’s stock, valued at approximately $10,626,898.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total transaction of $29,902.08. Following the transaction, the senior vice president now directly owns 30,321 shares of the company’s stock, valued at approximately $2,179,473.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,488 shares of company stock valued at $2,020,143. Insiders own 0.28% of the company’s stock.

Western Digital Stock Down 6.8 %

Western Digital stock traded down $5.27 during trading hours on Wednesday, hitting $71.79. The company had a trading volume of 9,747,265 shares, compared to its average volume of 6,330,221. The firm has a market capitalization of $23.44 billion, a P/E ratio of -14.44 and a beta of 1.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.07. The firm’s fifty day moving average is $76.13 and its 200-day moving average is $66.75. Western Digital Co. has a fifty-two week low of $35.62 and a fifty-two week high of $81.55.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.42. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.37 billion. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.57) EPS. On average, research analysts forecast that Western Digital Co. will post -1.45 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.