DekaBank Deutsche Girozentrale Boosts Stock Position in Western Digital Co. (NASDAQ:WDC)

DekaBank Deutsche Girozentrale raised its stake in shares of Western Digital Co. (NASDAQ:WDC) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 241,405 shares of the data storage provider’s stock after acquiring an additional 6,800 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.07% of Western Digital worth $18,838,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Western Digital during the 1st quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new position in Western Digital during the 1st quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new position in Western Digital during the 2nd quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC acquired a new position in Western Digital during the 2nd quarter worth approximately $34,000. Finally, SOA Wealth Advisors LLC. acquired a new position in Western Digital during the 1st quarter worth approximately $31,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the transaction, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 128,413 shares of the company’s stock, valued at $7,331,098.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,955 shares of company stock valued at $1,053,560. 0.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on WDC shares. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. TD Cowen lowered their price target on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Susquehanna lowered their price target on Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $80.00 price target on shares of Western Digital in a report on Tuesday, September 10th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $115.00 price target on shares of Western Digital in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.05.

Western Digital Trading Up 2.8 %

Shares of Western Digital stock opened at $65.02 on Monday. Western Digital Co. has a fifty-two week low of $35.62 and a fifty-two week high of $81.55. The firm has a market cap of $21.23 billion, a PE ratio of -13.08 and a beta of 1.39. The business’s fifty day moving average is $66.01 and its two-hundred day moving average is $69.45. 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 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.17. The business had revenue of $3.76 billion for 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%. Analysts anticipate that Western Digital Co. will post 7.75 earnings per share for the current year.

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.