DekaBank Deutsche Girozentrale Sells 1,395 Shares of Western Digital Co. (NASDAQ:WDC)

DekaBank Deutsche Girozentrale cut its holdings in Western Digital Co. (NASDAQ:WDC) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 240,010 shares of the data storage provider’s stock after selling 1,395 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Western Digital were worth $16,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WDC. Eastern Bank purchased a new stake in shares of Western Digital during the third quarter valued at $27,000. Fairfield Financial Advisors LTD purchased a new position in Western Digital in the 2nd quarter worth about $29,000. Fidelis Capital Partners LLC bought a new position in Western Digital during the 1st quarter valued at about $30,000. OFI Invest Asset Management purchased a new stake in shares of Western Digital during the 2nd quarter valued at about $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Western Digital in the second quarter worth approximately $34,000. Institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

NASDAQ:WDC opened at $68.30 on Wednesday. The stock has a 50-day moving average price of $65.59 and a 200 day moving average price of $69.61. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. Western Digital Co. has a 12-month low of $38.43 and a 12-month high of $81.55. The stock has a market capitalization of $23.61 billion, a P/E ratio of 40.18 and a beta of 1.39.

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

Insider Buying and Selling at Western Digital

In other news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the completion of the transaction, the chief executive officer now owns 896,630 shares in the company, valued at $63,051,021.60. 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 is available at the SEC website. In other news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the completion of the transaction, the chief executive officer now directly owns 896,630 shares in the company, valued at approximately $63,051,021.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gene M. Zamiska sold 1,993 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $69.94, for a total transaction of $139,390.42. Following the completion of the sale, the senior vice president now owns 30,608 shares in the company, valued at $2,140,723.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,948 shares of company stock worth $11,910,450. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $95.00 price target on shares of Western Digital in a report on Friday, October 25th. Barclays increased their target price on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, October 25th. TD Cowen cut their price target on Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, September 13th. UBS Group lowered their price objective on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald raised their price objective on shares of Western Digital from $80.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average price target 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.