Signaturefd LLC Sells 1,366 Shares of Western Digital Co. (NASDAQ:WDC)

Signaturefd LLC lessened its stake in shares of Western Digital Co. (NASDAQ:WDC) by 25.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,925 shares of the data storage provider’s stock after selling 1,366 shares during the quarter. Signaturefd LLC’s holdings in Western Digital were worth $268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AGF Management Ltd. raised its holdings in shares of 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 worth $166,860,000 after acquiring an additional 2,194,603 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Western Digital by 247.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock worth $109,602,000 after acquiring an additional 1,029,658 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Western Digital by 1,089.7% in 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 acquiring an additional 981,527 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 acquiring an additional 810,977 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Western Digital by 304.9% in the 2nd quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider’s stock worth $53,750,000 after acquiring an additional 534,168 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

WDC has been the topic of a number of analyst reports. Barclays upped their target price on shares of Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday. Benchmark reiterated a “buy” rating and issued a $92.00 price objective on shares of Western Digital in a research note on Friday. StockNews.com upgraded shares of Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. UBS Group decreased their price objective on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, BNP Paribas decreased their price objective on shares of Western Digital from $95.00 to $90.00 in a research note on Thursday. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and an average price target of $86.09.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $69.45 on Friday. The stock has a market cap of $22.68 billion, a PE ratio of -13.97 and a beta of 1.39. The company’s fifty day moving average is $65.42 and its 200 day moving average is $69.68. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53.

Western Digital (NASDAQ:WDC) last issued its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping 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 company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Research analysts anticipate that Western Digital Co. will post 7.75 earnings per share for the current year.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the business’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the business’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $693,871.86. Following the completion of the transaction, the executive vice president now owns 128,413 shares in the company, valued at $7,331,098.17. 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.

About Western Digital

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.