Western Digital Co. (NASDAQ:WDC) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. cut its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,983 shares of the data storage provider’s stock after selling 1,555 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Western Digital were worth $4,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WDC. Rise Advisors LLC acquired a new stake in shares of Western Digital during the first quarter worth approximately $25,000. Fairfield Financial Advisors LTD bought a new position in Western Digital during the 2nd quarter valued at $29,000. Fidelis Capital Partners LLC bought a new position in Western Digital during the 1st quarter valued at $30,000. 1620 Investment Advisors Inc. acquired a new position in Western Digital during the 2nd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Western Digital in the 2nd quarter valued at about $34,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Western Digital

In related news, CEO David Goeckeler sold 75,000 shares of Western Digital stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $70.32, for a total transaction of $5,274,000.00. Following the sale, the chief executive officer now directly owns 896,630 shares in the company, valued at $63,051,021.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO David Goeckeler sold 75,000 shares of the firm’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 transaction of $5,274,000.00. Following the transaction, the chief executive officer now owns 896,630 shares in the company, valued at $63,051,021.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the sale, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,955 shares of company stock valued at $6,327,560. 0.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on WDC. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. 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 report on Friday, September 13th. Summit Insights lowered Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Benchmark restated a “buy” rating and set a $92.00 price objective on shares of Western Digital in a research note on Thursday, September 26th. Finally, Susquehanna lowered their target price on shares of Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.24.

Western Digital Price Performance

NASDAQ WDC opened at $66.76 on Wednesday. The company has a 50-day moving average price of $63.88 and a two-hundred day moving average price of $69.80. The stock has a market cap of $22.93 billion, a price-to-earnings ratio of -13.43 and a beta of 1.39. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.17. The business had revenue of $3.76 billion during 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%. Analysts forecast that Western Digital Co. will post 7.75 EPS for the current year.

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.