Envestnet Asset Management Inc. Has $20.84 Million Holdings in Western Digital Co. (NASDAQ:WDC)

Envestnet Asset Management Inc. boosted its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 2.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,976 shares of the data storage provider’s stock after purchasing an additional 6,148 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Western Digital worth $20,835,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in shares of Western Digital during the first quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new position in Western Digital during the 1st quarter worth $30,000. SOA Wealth Advisors LLC. acquired a new position in Western Digital during the 1st quarter worth $31,000. OFI Invest Asset Management bought a new position in Western Digital in the 2nd quarter valued at $34,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Western Digital in the 2nd quarter valued at $34,000. Institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of research reports. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Susquehanna lowered their price target on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Mizuho boosted their price target on shares of Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Wedbush upped their target price on shares of Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 price target on shares of Western Digital in a research note on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.24.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related 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 transaction of $693,871.86. Following the transaction, the executive vice president now directly owns 128,413 shares in the company, valued at $7,331,098.17. The sale was disclosed in a filing with the SEC, which is available through this link. 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. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,955 shares of company stock worth $1,053,560. Insiders own 0.28% of the company’s stock.

Western Digital Stock Performance

Shares of Western Digital stock opened at $66.75 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. The firm has a market cap of $21.80 billion, a price-to-earnings ratio of -13.43 and a beta of 1.39. The stock’s 50-day moving average is $64.68 and its 200-day moving average is $69.53. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55.

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