Bleakley Financial Group LLC Acquires 296 Shares of Western Digital Co. (NASDAQ:WDC)

Bleakley Financial Group LLC grew its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,825 shares of the data storage provider’s stock after purchasing an additional 296 shares during the quarter. Bleakley Financial Group LLC’s holdings in Western Digital were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. AGF Management Ltd. grew its holdings in Western Digital by 28,925.8% during the second 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. grew its holdings in Western Digital by 247.0% during the second quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock valued at $109,602,000 after purchasing an additional 1,029,658 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Western Digital by 1,089.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,071,600 shares of the data storage provider’s stock valued at $73,126,000 after purchasing an additional 981,527 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Western Digital by 39.6% during the 2nd 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 during the period. Finally, Marshall Wace LLP boosted its stake in Western Digital by 304.9% during the 2nd quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider’s stock valued at $53,750,000 after purchasing an additional 534,168 shares during the period. Institutional investors own 92.51% of the company’s stock.

Insider Activity

In other news, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 128,413 shares in the company, valued at approximately $7,331,098.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86. Following the transaction, the executive vice president now owns 128,413 shares of the company’s stock, valued at $7,331,098.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Goeckeler sold 75,000 shares of the firm’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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,955 shares of company stock worth $6,327,560. 0.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wedbush increased their target price on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Susquehanna decreased their target price on Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. TD Cowen decreased their target price on Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Western Digital in a research report on Tuesday, September 10th. Finally, StockNews.com raised shares of Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Western Digital currently has a consensus rating of “Moderate Buy” and an average price target of $84.24.

Western Digital Trading Down 1.7 %

Shares of WDC stock opened at $66.61 on Thursday. Western Digital Co. has a 12-month low of $35.62 and a 12-month high of $81.55. The company has a market capitalization of $21.75 billion, a P/E ratio of -13.40 and a beta of 1.39. The firm has a 50-day moving average price of $65.16 and a 200 day moving average price of $69.77. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (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 during the quarter, compared to the consensus estimate of $3.77 billion. Research analysts forecast that Western Digital Co. will post 7.75 earnings per share for the current fiscal 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.