XTX Topco Ltd Acquires 30,331 Shares of Western Digital Co. (NASDAQ:WDC)

XTX Topco Ltd grew its stake in shares of Western Digital Co. (NASDAQ:WDC) by 225.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 43,788 shares of the data storage provider’s stock after purchasing an additional 30,331 shares during the quarter. XTX Topco Ltd’s holdings in Western Digital were worth $3,318,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WDC. Rise Advisors LLC purchased a new position in shares of Western Digital in the 1st quarter worth $25,000. Fairfield Financial Advisors LTD purchased a new stake in Western Digital in the second quarter worth $29,000. Fidelis Capital Partners LLC bought a new stake in Western Digital during the 1st quarter valued at about $30,000. SOA Wealth Advisors LLC. purchased a new stake in Western Digital in the 1st quarter valued at about $31,000. Finally, OFI Invest Asset Management bought a new position in Western Digital in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Down 2.2 %

Shares of NASDAQ:WDC opened at $64.42 on Thursday. 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 50 day moving average of $65.47 and a two-hundred day moving average of $69.50. The company has a market capitalization of $21.03 billion, a price-to-earnings ratio of -12.96 and a beta of 1.39. Western Digital Co. has a 52-week low of $35.62 and a 52-week high of $81.55.

Western Digital (NASDAQ:WDC) last posted 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 return on equity of 2.63% and a negative net margin of 3.75%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.77 billion. As a group, analysts forecast that Western Digital Co. will post 7.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Susquehanna reduced their price objective on Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Rosenblatt Securities reissued a “buy” rating and set a $115.00 target price on shares of Western Digital in a research report on Thursday, August 1st. Citigroup cut their price objective on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Loop Capital upped their target price on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Finally, TD Cowen decreased their price objective on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.05.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of Western Digital 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 transaction, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at $1,873,374.30. The disclosure for this sale can be found here. Insiders have sold a total of 17,955 shares of company stock worth $1,053,560 over the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

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.