Western Digital Co. (NASDAQ:WDC) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. trimmed its holdings in Western Digital Co. (NASDAQ:WDC) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,983 shares of the data storage provider’s stock after selling 1,555 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Western Digital were worth $4,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Rise Advisors LLC acquired a new stake in Western Digital during the 1st quarter worth approximately $25,000. Fairfield Financial Advisors LTD purchased a new stake in shares of Western Digital during the second quarter worth approximately $29,000. Fidelis Capital Partners LLC acquired a new stake in shares of Western Digital during the first quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new position in Western Digital in the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Western Digital in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on WDC shares. Wedbush lifted their target price on shares of Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Susquehanna lowered their price objective on Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Citigroup dropped their target price on Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $92.00 price objective on shares of Western Digital in a report on Thursday, September 26th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.24.

Insider Buying and Selling

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the business’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 transaction, the chief executive officer now owns 896,630 shares in the company, valued at $63,051,021.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 28,870 shares in the company, valued at approximately $1,873,374.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of Western Digital stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the sale, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. The disclosure for this sale can be found here. In the last three months, insiders sold 92,955 shares of company stock valued at $6,327,560. Company insiders own 0.28% of the company’s stock.

Western Digital Price Performance

Shares of Western Digital stock opened at $66.76 on Wednesday. The stock has a market capitalization of $22.93 billion, a P/E ratio of -13.43 and a beta of 1.39. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The business’s fifty day moving average price is $63.88 and its 200 day moving average price is $69.80. Western Digital Co. has a twelve month low of $35.62 and a twelve month high of $81.55.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.77 billion. As a group, research 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.