666 Shares in Western Digital Co. (NASDAQ:WDC) Purchased by Brooklyn Investment Group

Brooklyn Investment Group purchased a new position in Western Digital Co. (NASDAQ:WDC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 666 shares of the data storage provider’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WDC. AGF Management Ltd. boosted its position in shares of Western Digital by 28,925.8% during the second quarter. AGF Management Ltd. now owns 2,202,190 shares of the data storage provider’s stock valued at $166,860,000 after buying an additional 2,194,603 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Western Digital by 247.0% during the second quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock valued at $109,602,000 after buying an additional 1,029,658 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Western Digital by 39.6% during the second quarter. Bank of New York Mellon Corp now owns 2,861,229 shares of the data storage provider’s stock valued at $216,795,000 after buying an additional 810,977 shares during the period. Marshall Wace LLP boosted its position in shares of Western Digital by 304.9% during the second quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider’s stock valued at $53,750,000 after buying an additional 534,168 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Western Digital by 240.5% during the second quarter. The Manufacturers Life Insurance Company now owns 675,875 shares of the data storage provider’s stock valued at $51,211,000 after buying an additional 477,390 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Activity

In other news, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total transaction of $46,053.42. Following the sale, the senior vice president now directly owns 28,863 shares of the company’s stock, valued at $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $72.58, for a total transaction of $5,443,500.00. Following the sale, the chief executive officer now directly owns 821,630 shares in the company, valued at $59,633,905.40. This trade represents a 8.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,963 shares of company stock valued at $13,154,039 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Western Digital Stock Performance

Shares of WDC stock opened at $72.99 on Friday. The business’s fifty day simple moving average is $66.98 and its 200-day simple moving average is $69.11. The company has a market cap of $25.23 billion, a PE ratio of 42.94 and a beta of 1.40. 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 $46.47 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.23. The business had revenue of $4.10 billion for 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%. The business’s quarterly revenue was up 48.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.97) earnings per share. Analysts expect that Western Digital Co. will post 6.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDC has been the subject of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $115.00 target price on shares of Western Digital in a research report on Friday, October 25th. UBS Group decreased their price target on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Barclays lifted their price target on shares of Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Citigroup decreased their price target on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price target on shares of Western Digital in a research note on Tuesday. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.71.

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.