Sanctuary Advisors LLC Invests $1.28 Million in Western Digital Co. (NASDAQ:WDC)

Sanctuary Advisors LLC bought a new stake in Western Digital Co. (NASDAQ:WDC) in the second quarter, Holdings Channel.com reports. The institutional investor bought 17,914 shares of the data storage provider’s stock, valued at approximately $1,278,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Western Digital by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 38,579,938 shares of the data storage provider’s stock valued at $2,020,431,000 after acquiring an additional 215,207 shares in the last quarter. DNB Asset Management AS increased its position in shares of Western Digital by 2.7% during the 2nd quarter. DNB Asset Management AS now owns 7,857,586 shares of the data storage provider’s stock valued at $595,369,000 after purchasing an additional 206,756 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Western Digital by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,881,847 shares of the data storage provider’s stock valued at $218,400,000 after buying an additional 143,074 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Western Digital by 39.6% in 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 buying an additional 810,977 shares during the last quarter. Finally, AGF Management Ltd. boosted its stake in Western Digital by 28,925.8% in the second quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock worth $166,860,000 after buying an additional 2,194,603 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Stock Down 0.7 %

Shares of NASDAQ:WDC opened at $64.05 on Friday. The firm has a market capitalization of $20.91 billion, a P/E ratio of -12.89 and a beta of 1.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. The stock has a 50 day moving average price of $63.81 and a 200-day moving average price of $69.89. Western Digital Co. has a 52-week low of $35.62 and a 52-week high of $81.55.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data 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 return on equity of 2.63% and a negative net margin of 3.75%. As a group, equities research analysts anticipate that Western Digital Co. will post 7.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of Western Digital 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 completion of the transaction, the senior vice president now owns 28,870 shares in the company, valued at approximately $1,873,374.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the transaction, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gene M. Zamiska sold 2,900 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total transaction of $178,292.00. Following the sale, the senior vice president now owns 37,448 shares in the company, valued at approximately $2,302,303.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,955 shares of company stock worth $6,327,560. 0.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WDC shares. Wedbush boosted their price objective on shares of Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 price target on shares of Western Digital in a research report on Tuesday, September 10th. TD Cowen decreased their price objective on 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 Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Benchmark reaffirmed a “buy” rating and issued a $92.00 price target on shares of Western Digital in a research note on Thursday, September 26th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.24.

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.