Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska Sells 1,659 Shares of Stock

Western Digital Co. (NASDAQ:WDC) SVP Gene M. Zamiska sold 1,659 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the transaction, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Western Digital Trading Down 2.8 %

Western Digital stock opened at $40.54 on Tuesday. The firm’s 50-day moving average is $61.27 and its 200-day moving average is $64.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. Western Digital Co. has a 1 year low of $39.42 and a 1 year high of $61.16. The company has a market cap of $14.10 billion, a P/E ratio of 9.65 and a beta of 1.42.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. On average, equities analysts expect that Western Digital Co. will post 4.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WDC shares. The Goldman Sachs Group upped their target price on shares of Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley cut their price target on shares of Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Wedbush reissued an “outperform” rating and issued a $95.00 target price on shares of Western Digital in a research note on Monday, February 10th. Barclays cut their target price on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, UBS Group raised their price target on shares of Western Digital from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.47.

Institutional Trading of Western Digital

Several hedge funds have recently bought and sold shares of WDC. Versant Capital Management Inc raised its position in shares of Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after buying an additional 304 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Western Digital in the 4th quarter worth $29,000. True Wealth Design LLC grew its holdings in shares of Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 415 shares during the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Western Digital in the 4th quarter worth $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Western Digital in the fourth quarter worth $36,000. 92.51% of the stock is currently owned by institutional investors.

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.