Gene M. Zamiska Sells 2,900 Shares of Western Digital Co. (NASDAQ:WDC) Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 2,900 shares of the 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 completion of the sale, the senior vice president now directly owns 37,448 shares in the company, valued at approximately $2,302,303.04. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Western Digital Trading Down 0.7 %

WDC opened at $62.43 on Thursday. The firm has a market cap of $21.44 billion, a price-to-earnings ratio of -12.56 and a beta of 1.37. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55. The business’s 50 day moving average is $69.19 and its two-hundred day moving average is $68.71. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. On average, research analysts predict that Western Digital Co. will post 8.73 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. purchased a new position in shares of Western Digital in the 1st quarter valued at approximately $1,242,000. Bessemer Group Inc. grew its stake 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 purchasing 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 4th quarter. Atria Wealth Solutions Inc. now owns 14,113 shares of the data storage provider’s stock valued at $739,000 after purchasing an additional 404 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Western Digital in the fourth quarter valued at approximately $480,000. Finally, Gerber LLC purchased a new stake in shares of Western Digital in the fourth quarter valued at approximately $567,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WDC shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 price target on shares of Western Digital in a research report on Thursday, August 1st. Citigroup increased their price target on Western Digital from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Wedbush increased their price target on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Susquehanna reduced their price target on Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Benchmark raised their target price on Western Digital from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and an average target price of $84.18.

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.