14,670 Shares in Western Digital Co. (NASDAQ:WDC) Bought by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG bought a new position in Western Digital Co. (NASDAQ:WDC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,670 shares of the data storage provider’s stock, valued at approximately $1,002,000.

Several other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in Western Digital by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock valued at $1,209,000 after purchasing an additional 203 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Western Digital by 15.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock valued at $116,000 after purchasing an additional 206 shares during the period. Mather Group LLC. raised its position in Western Digital by 10.7% in the second quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after purchasing an additional 213 shares during the period. Hanseatic Management Services Inc. raised its position in Western Digital by 2.3% in the second quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock valued at $784,000 after purchasing an additional 236 shares during the period. Finally, Empirical Finance LLC raised its position in Western Digital by 2.4% in the third quarter. Empirical Finance LLC now owns 10,891 shares of the data storage provider’s stock valued at $744,000 after purchasing an additional 256 shares during the period. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was 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 owns 896,630 shares of the company’s stock, valued at $63,051,021.60. The trade was a 7.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Soderbery sold 30,767 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total value of $2,092,463.67. Following the sale, the executive vice president now directly owns 135,398 shares in the company, valued at approximately $9,208,417.98. The trade was a 18.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,520 shares of company stock valued at $13,306,224. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised their price objective on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. UBS Group dropped their target price on Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Citigroup dropped their target price on Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 target price on shares of Western Digital in a research report on Friday, October 25th. Finally, Susquehanna lifted their target price on Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.71.

Western Digital Stock Performance

Shares of WDC stock opened at $66.43 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average of $66.48 and a two-hundred day moving average of $69.10. Western Digital Co. has a 52 week low of $46.05 and a 52 week high of $81.55. The company has a market cap of $22.97 billion, a P/E ratio of 39.08 and a beta of 1.40.

Western Digital (NASDAQ:WDC) last issued its earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.23. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.12 billion. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. Western Digital’s quarterly revenue was up 48.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.97) earnings per share. As a group, analysts anticipate that Western Digital Co. will post 6.56 EPS for the current 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.