Vontobel Holding Ltd. Has $795,000 Stock Position in Western Digital Co. (NASDAQ:WDC)

Vontobel Holding Ltd. grew its position in Western Digital Co. (NASDAQ:WDC) by 22.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,640 shares of the data storage provider’s stock after buying an additional 2,165 shares during the period. Vontobel Holding Ltd.’s holdings in Western Digital were worth $795,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Swedbank AB lifted its holdings in shares of Western Digital by 19.7% in the third quarter. Swedbank AB now owns 291,777 shares of the data storage provider’s stock valued at $19,925,000 after purchasing an additional 47,965 shares in the last quarter. Creative Planning increased its position in Western Digital by 4.5% during the third quarter. Creative Planning now owns 42,408 shares of the data storage provider’s stock worth $2,896,000 after buying an additional 1,835 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in Western Digital during the third quarter worth approximately $42,000. ORG Wealth Partners LLC acquired a new position in shares of Western Digital in the third quarter valued at approximately $112,000. Finally, Sound Income Strategies LLC grew its position in shares of Western Digital by 8.6% in the third quarter. Sound Income Strategies LLC now owns 67,018 shares of the data storage provider’s stock valued at $4,577,000 after purchasing an additional 5,296 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors.

Insider Activity at Western Digital

In related news, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $7,331,098.17. This trade represents 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. In other news, CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $70.32, for a total value of $5,274,000.00. Following the sale, the chief executive officer now directly owns 896,630 shares in the company, valued at $63,051,021.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the completion of the sale, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,955 shares of company stock worth $6,327,560 over the last 90 days. 0.30% of the stock is owned by company insiders.

Western Digital Stock Performance

Western Digital stock opened at $67.03 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $23.17 billion, a PE ratio of -36.83 and a beta of 1.39. The firm has a fifty day simple moving average of $64.89 and a two-hundred day simple moving average of $69.85. Western Digital Co. has a twelve month low of $35.62 and a twelve month high of $81.55.

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, beating analysts’ consensus estimates 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 firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Research analysts expect that Western Digital Co. will post 7.75 EPS for the current year.

Analysts Set New Price Targets

WDC has been the subject of several recent research reports. Wedbush boosted their price target on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price target on shares of Western Digital in a report on Tuesday, September 10th. Summit Insights downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup decreased their price objective on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Finally, Benchmark restated a “buy” rating and issued a $92.00 price objective on shares of Western Digital in a report on Thursday, September 26th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.24.

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.