Artemis Investment Management LLP Trims Holdings in Western Digital Co. (NASDAQ:WDC)

Artemis Investment Management LLP lowered its position in Western Digital Co. (NASDAQ:WDC) by 33.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,445,786 shares of the data storage provider’s stock after selling 710,666 shares during the quarter. Western Digital comprises about 1.5% of Artemis Investment Management LLP’s holdings, making the stock its 13th biggest holding. Artemis Investment Management LLP owned approximately 0.42% of Western Digital worth $98,733,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Western Digital by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock valued at $1,209,000 after acquiring an additional 203 shares in the last quarter. Massmutual Trust Co. FSB ADV increased 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 valued at $116,000 after acquiring an additional 206 shares in the last quarter. Mather Group LLC. raised its position in shares of Western Digital by 10.7% during 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. Hanseatic Management Services Inc. lifted its stake in Western Digital by 2.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock valued at $784,000 after buying an additional 236 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of Western Digital by 0.5% in the first quarter. Czech National Bank now owns 57,050 shares of the data storage provider’s stock worth $3,893,000 after acquiring an additional 261 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $70.32, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction dated 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 directly owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,955 shares of company stock worth $6,327,560 in the last quarter. 0.28% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $92.00 target price on shares of Western Digital in a research report on Thursday, September 26th. StockNews.com raised shares of Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Summit Insights lowered Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. TD Cowen reduced their price target on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 target price on shares of Western Digital in a research report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $84.24.

Western Digital Stock Down 0.4 %

Western Digital stock opened at $66.17 on Wednesday. Western Digital Co. has a twelve month low of $35.62 and a twelve month high of $81.55. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average price of $63.79 and a 200-day moving average price of $69.97. The company has a market capitalization of $22.73 billion, a P/E ratio of -13.31 and a beta of 1.39.

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, topping 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 firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.77 billion. As a group, equities analysts predict that Western Digital Co. will post 7.75 EPS for the current year.

Western Digital Company 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.