Western Digital Co. (NASDAQ:WDC) Shares Sold by Atria Investments Inc

Atria Investments Inc trimmed its position in Western Digital Co. (NASDAQ:WDC) by 10.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,557 shares of the data storage provider’s stock after selling 758 shares during the quarter. Atria Investments Inc’s holdings in Western Digital were worth $448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Western Digital by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock worth $1,209,000 after acquiring an additional 203 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake 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 worth $116,000 after buying an additional 206 shares during the period. Mather Group LLC. increased its stake in 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 buying an additional 213 shares during the period. Hanseatic Management Services Inc. increased its stake in Western Digital by 2.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock worth $784,000 after buying an additional 236 shares during the period. Finally, Van ECK Associates Corp increased its stake in Western Digital by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 4,696 shares of the data storage provider’s stock worth $313,000 after buying an additional 267 shares during the period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Trading Down 2.2 %

Shares of Western Digital stock opened at $63.84 on Thursday. The stock has a market cap of $22.07 billion, a price-to-earnings ratio of 37.55 and a beta of 1.40. The company has a fifty day simple moving average of $66.40 and a 200-day simple moving average of $69.18. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. Western Digital Co. has a 12-month low of $46.05 and a 12-month high of $81.55.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.23. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. Western Digital’s quarterly revenue was up 48.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.97) EPS. On average, equities analysts forecast that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Analysts Set New Price Targets

WDC has been the topic of several recent research reports. Cantor Fitzgerald upped their target price on shares of Western Digital from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Susquehanna upped their target price on shares of Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Summit Insights downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup dropped their price objective on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Wedbush reissued an “outperform” rating and issued a $95.00 price objective on shares of Western Digital in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.71.

Insider Transactions at Western Digital

In other news, EVP Robert Soderbery sold 30,767 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total value of $2,092,463.67. Following the completion of the transaction, the executive vice president now owns 135,398 shares in the company, valued at $9,208,417.98. This trade represents a 18.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Gene M. Zamiska sold 2,900 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $61.48, for a total transaction of $178,292.00. Following the completion of the transaction, the senior vice president now owns 37,448 shares of the company’s stock, valued at $2,302,303.04. This represents a 7.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,144 shares of company stock worth $13,281,983. Company insiders own 0.30% of the company’s stock.

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.