Creative Planning Acquires 1,835 Shares of Western Digital Co. (NASDAQ:WDC)

Creative Planning boosted its holdings in Western Digital Co. (NASDAQ:WDC) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,408 shares of the data storage provider’s stock after acquiring an additional 1,835 shares during the quarter. Creative Planning’s holdings in Western Digital were worth $2,896,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fairfield Financial Advisors LTD bought a new stake in shares of Western Digital in the 2nd quarter valued at approximately $29,000. Fidelis Capital Partners LLC bought a new stake in Western Digital in the first quarter valued at $30,000. OFI Invest Asset Management acquired a new position in Western Digital during the second quarter worth $34,000. 1620 Investment Advisors Inc. bought a new position in shares of Western Digital during the second quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Western Digital in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WDC shares. The Goldman Sachs Group dropped their target price on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday. BNP Paribas cut their target price on shares of Western Digital from $95.00 to $90.00 in a research note on Thursday. TD Cowen reduced their target price on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Evercore ISI reaffirmed an “outperform” rating and set a $85.00 price target on shares of Western Digital in a report on Thursday, August 15th. Finally, UBS Group reduced their price objective on Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.09.

Western Digital Stock Performance

WDC stock opened at $69.45 on Friday. 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 company has a market cap of $22.68 billion, a P/E ratio of -13.97 and a beta of 1.39. The business’s fifty day moving average is $65.42 and its 200-day moving average is $69.68.

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

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 417 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the sale, the senior vice president now owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction that occurred on 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 $63,051,021.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at $1,873,374.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,955 shares of company stock valued at $6,327,560 in the last 90 days. 0.28% of the stock is owned by insiders.

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.