Western Digital Co. (NASDAQ:WDC) Shares Sold by Forsta AP Fonden

Forsta AP Fonden cut its position in Western Digital Co. (NASDAQ:WDC) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,900 shares of the data storage provider’s stock after selling 6,900 shares during the quarter. Forsta AP Fonden’s holdings in Western Digital were worth $4,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WDC. Rise Advisors LLC purchased a new position in Western Digital in the first quarter valued at $25,000. Fidelis Capital Partners LLC purchased a new position in Western Digital in the first quarter valued at $30,000. SOA Wealth Advisors LLC. purchased a new position in Western Digital in the first quarter valued at $31,000. OFI Invest Asset Management purchased a new position in Western Digital in the second quarter valued at $34,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Western Digital in the second quarter valued at $34,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 128,413 shares in the company, valued at approximately $7,331,098.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Gene M. Zamiska sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total value of $178,292.00. Following the completion of the sale, the senior vice president now owns 37,448 shares in the company, valued at approximately $2,302,303.04. The disclosure for this sale can be found here. Insiders have sold a total of 18,174 shares of company stock worth $1,070,642 in the last quarter. Company insiders own 0.28% of the company’s stock.

Western Digital Stock Performance

NASDAQ WDC opened at $65.02 on Friday. 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 50 day moving average is $66.01 and its two-hundred day moving average is $69.37. Western Digital Co. has a 12-month low of $35.62 and a 12-month high of $81.55. The stock has a market capitalization of $21.23 billion, a price-to-earnings ratio of -13.08 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.17. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. Research analysts expect that Western Digital Co. will post 7.75 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on WDC shares. Summit Insights lowered Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wedbush lifted their price target on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Mizuho boosted their target price on Western Digital from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 31st. Loop Capital boosted their target price on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $115.00 target price 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.05.

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.