Livforsakringsbolaget Skandia Omsesidigt Buys 2,600 Shares of Western Digital Co. (NASDAQ:WDC)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Western Digital Co. (NASDAQ:WDC) by 464.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,160 shares of the data storage provider’s stock after buying an additional 2,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Western Digital were worth $216,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of Western Digital during the first quarter worth about $25,000. Fairfield Financial Advisors LTD bought a new stake in Western Digital in the second quarter worth approximately $29,000. Fidelis Capital Partners LLC bought a new stake in Western Digital in the first quarter worth approximately $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of Western Digital during the second quarter valued at approximately $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Western Digital during the second quarter valued at approximately $34,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDC has been the topic of several analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $85.00 target price on shares of Western Digital in a research report on Thursday, August 15th. Susquehanna decreased their target price on Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Rosenblatt Securities restated a “buy” rating and set a $115.00 price target on shares of Western Digital in a research report on Thursday, August 1st. Finally, TD Cowen reduced their price target on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and an average price target of $84.24.

Insider Activity at Western Digital

In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the transaction, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the sale, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,955 shares of company stock valued at $6,327,560 in the last ninety days. Insiders own 0.28% of the company’s stock.

Western Digital Price Performance

NASDAQ WDC opened at $66.83 on Tuesday. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The stock has a market cap of $21.82 billion, a price-to-earnings ratio of -13.45 and a beta of 1.39. The company has a 50-day moving average price of $64.16 and a two-hundred day moving average price of $69.91.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. Analysts forecast that Western Digital Co. will post 7.75 EPS for the current year.

Western Digital 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.