Western Digital Co. (NASDAQ:WDC) CEO David Goeckeler Sells 75,000 Shares

Western Digital Co. (NASDAQ:WDC) CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the sale, the chief executive officer now directly owns 821,630 shares of the company’s stock, valued at approximately $59,633,905.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

David Goeckeler also recently made the following trade(s):

• On Thursday, September 26th, David Goeckeler sold 75,000 shares of Western Digital stock. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00.

Western Digital Stock Performance

NASDAQ WDC opened at $69.71 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average price is $65.51 and its two-hundred day moving average price is $69.64. Western Digital Co. has a 1 year low of $38.43 and a 1 year high of $81.55. The firm has a market capitalization of $24.10 billion, a P/E ratio of 41.01 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the firm posted ($1.97) earnings per share. The company’s quarterly revenue was up 48.9% compared to the same quarter last year. As a group, research analysts anticipate that Western Digital Co. will post 7.16 EPS for the current year.

Hedge Funds Weigh In On Western Digital

Large investors have recently modified their holdings of the stock. Eastern Bank acquired a new position in shares of Western Digital in the third quarter valued at about $27,000. Fairfield Financial Advisors LTD acquired a new position in shares of Western Digital in the second quarter valued at about $29,000. Fidelis Capital Partners LLC acquired a new position in shares of Western Digital in the first quarter valued at about $30,000. OFI Invest Asset Management acquired a new position in shares of Western Digital in the second quarter valued at about $34,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Western Digital in the second quarter valued at about $34,000. 92.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup dropped their price target on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. 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 report on Thursday, October 24th. Barclays boosted their price objective on shares of Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday. The Goldman Sachs Group decreased their price objective on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, Susquehanna boosted their price objective on shares of Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a report on Friday. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.09.

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.