Skandinaviska Enskilda Banken AB publ Grows Holdings in Western Digital Co. (NASDAQ:WDC)

Skandinaviska Enskilda Banken AB publ boosted its position in Western Digital Co. (NASDAQ:WDC) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,825 shares of the data storage provider’s stock after buying an additional 12,580 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.11% of Western Digital worth $27,329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDC. Allspring Global Investments Holdings LLC grew its position in shares of Western Digital by 1.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after buying an additional 203 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Western Digital by 15.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after acquiring an additional 206 shares in the last quarter. Mather Group LLC. increased its position in shares of Western Digital by 10.7% in the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock worth $167,000 after purchasing an additional 213 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Western Digital by 37.3% in the 1st quarter. Lindbrook Capital LLC now owns 843 shares of the data storage provider’s stock valued at $58,000 after purchasing an additional 229 shares in the last quarter. Finally, Hanseatic Management Services Inc. lifted its position in shares of Western Digital by 2.3% during the second quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock worth $784,000 after purchasing an additional 236 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 of the company’s stock, valued at approximately $1,873,374.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Gene M. Zamiska sold 417 shares of the business’s 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 sale, the senior vice president now owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Soderbery sold 12,154 shares of the company’s 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 approximately $7,331,098.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,955 shares of company stock valued at $1,053,560. Company insiders own 0.28% of the company’s stock.

Western Digital Stock Up 1.2 %

WDC opened at $66.75 on Friday. The stock’s 50 day moving average price is $64.92 and its 200 day moving average price is $69.44. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. The stock has a market cap of $21.80 billion, a P/E ratio of -13.43 and a beta of 1.39. Western Digital Co. has a 12 month low of $35.62 and a 12 month high of $81.55.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. The company 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%. As a group, research analysts predict that Western Digital Co. will post 7.75 earnings per share for the current year.

Wall Street Analyst Weigh In

WDC has been the subject of several research analyst reports. TD Cowen lowered their price objective on Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a report on Friday, September 13th. Citigroup lowered their price target on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Loop Capital raised their price objective on Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Western Digital in a report on Tuesday, September 10th. Finally, Mizuho increased their target price on shares of Western Digital from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and an average 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.