Western Digital Co. (NASDAQ:WDC) Shares Purchased by Quarry LP

Quarry LP boosted its stake in shares of Western Digital Co. (NASDAQ:WDC) by 154.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 760 shares of the data storage provider’s stock after buying an additional 461 shares during the quarter. Quarry LP’s holdings in Western Digital were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in WDC. AGF Management Ltd. grew its stake in Western Digital by 28,925.8% in the 2nd quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock valued at $166,860,000 after acquiring an additional 2,194,603 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Western Digital by 247.0% in the second quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock valued at $109,602,000 after purchasing an additional 1,029,658 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Western Digital by 1,089.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock worth $73,126,000 after purchasing an additional 981,527 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Western Digital by 39.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock worth $216,795,000 after purchasing an additional 810,977 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Western Digital by 304.9% in the 2nd quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider’s stock valued at $53,750,000 after buying an additional 534,168 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $70.32, for a total value of $5,274,000.00. Following the completion of the sale, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the completion of the transaction, the chief executive officer now owns 896,630 shares in the company, valued at $63,051,021.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 92,955 shares of company stock valued at $6,327,560. Company insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WDC shares. Wedbush boosted their price target on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. TD Cowen reduced their target price on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Summit Insights cut shares of Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup cut their price objective on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of Western Digital in a research report on Tuesday, September 10th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.24.

Western Digital Stock Down 0.3 %

Shares of NASDAQ:WDC opened at $66.35 on Friday. The stock has a 50-day simple moving average of $63.77 and a 200-day simple moving average of $69.75. The stock has a market capitalization of $22.79 billion, a P/E ratio of -13.35 and a beta of 1.39. Western Digital Co. has a 1 year low of $35.62 and a 1 year high of $81.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.17. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.77 billion. Equities analysts forecast that Western Digital Co. will post 7.75 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.