DRW Securities LLC Invests $268,000 in Western Digital Co. (NASDAQ:WDC)

DRW Securities LLC purchased a new stake in Western Digital Co. (NASDAQ:WDC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,534 shares of the data storage provider’s stock, valued at approximately $268,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDC. Kodai Capital Management LP acquired a new position in shares of Western Digital during the fourth quarter valued at about $212,900,000. AGF Management Ltd. boosted its stake in Western Digital by 28,925.8% during the 2nd quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock valued at $166,860,000 after purchasing an additional 2,194,603 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Western Digital by 247.0% during 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 purchasing an additional 1,029,658 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Western Digital by 1,089.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock worth $73,126,000 after purchasing an additional 981,527 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Western Digital by 39.6% in the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock valued at $216,795,000 after purchasing an additional 810,977 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Western Digital Price Performance

Western Digital stock opened at $66.29 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55. The firm has a market capitalization of $21.65 billion, a P/E ratio of -13.34 and a beta of 1.39. The business has a fifty day moving average price of $64.43 and a 200-day moving average price of $69.54.

Western Digital (NASDAQ:WDC) last posted its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.77 billion. As a group, equities research analysts forecast that Western Digital Co. will post 7.75 EPS for the current year.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 2,169 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $61.96, for a total value of $134,391.24. Following the completion of the transaction, the senior vice president now directly owns 32,601 shares of the company’s stock, valued at approximately $2,019,957.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Western Digital news, SVP Gene M. Zamiska sold 2,169 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $61.96, for a total value of $134,391.24. Following the transaction, the senior vice president now directly owns 32,601 shares in the company, valued at approximately $2,019,957.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gene M. Zamiska sold 417 shares of the firm’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 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 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.

Analyst Ratings Changes

A number of equities research analysts recently commented on WDC shares. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 price target on shares of Western Digital in a research report on Thursday, August 1st. Evercore ISI reiterated an “outperform” rating and issued a $85.00 price objective on shares of Western Digital in a research note on Thursday, August 15th. Citigroup cut their target price on Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Benchmark increased their price target on Western Digital from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 price objective on shares of Western Digital in a research report on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.