Trexquant Investment LP Purchases New Stake in Western Digital Co. (NASDAQ:WDC)

Trexquant Investment LP purchased a new stake in Western Digital Co. (NASDAQ:WDCFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,490 shares of the data storage provider’s stock, valued at approximately $497,000.

Several other hedge funds have also bought and sold shares of the business. Kestra Private Wealth Services LLC bought a new position in Western Digital during the 3rd quarter valued at $244,000. J.P. Morgan Private Wealth Advisors LLC bought a new position in Western Digital during the 3rd quarter valued at $4,438,000. Charles Schwab Investment Management Inc. lifted its stake in Western Digital by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,028,114 shares of the data storage provider’s stock valued at $138,173,000 after acquiring an additional 66,680 shares in the last quarter. Van ECK Associates Corp lifted its stake in Western Digital by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 12,516 shares of the data storage provider’s stock valued at $571,000 after acquiring an additional 1,093 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Western Digital by 11.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 14,053 shares of the data storage provider’s stock valued at $641,000 after acquiring an additional 1,476 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Analyst Ratings Changes

WDC has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Western Digital from $65.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. StockNews.com cut Western Digital from a “hold” rating to a “sell” rating in a research note on Monday, May 27th. Bank of America lifted their target price on Western Digital from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Rosenblatt Securities upgraded Western Digital from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Wedbush reissued an “outperform” rating and issued a $85.00 price objective on shares of Western Digital in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.77.

Read Our Latest Research Report on Western Digital

Insider Activity at Western Digital

In related news, Director Kimberly Alexy sold 2,648 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the transaction, the director now owns 20,509 shares in the company, valued at $1,434,604.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Kimberly Alexy sold 2,648 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the transaction, the director now owns 20,509 shares in the company, valued at $1,434,604.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Gene M. Zamiska sold 416 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $71.88, for a total value of $29,902.08. Following the transaction, the senior vice president now owns 30,321 shares of the company’s stock, valued at approximately $2,179,473.48. The disclosure for this sale can be found here. Insiders sold a total of 3,507 shares of company stock worth $248,355 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Western Digital Stock Performance

Shares of WDC stock opened at $75.29 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.07 and a debt-to-equity ratio of 0.72. Western Digital Co. has a fifty-two week low of $35.62 and a fifty-two week high of $77.66. The stock has a 50 day moving average price of $71.52 and a two-hundred day moving average price of $60.34.

Western Digital (NASDAQ:WDCGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.42. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter in the previous year, the company posted ($1.57) earnings per share. The business’s revenue was up 23.3% on a year-over-year basis. As a group, research analysts forecast that Western Digital Co. will post -1.68 earnings per share for the current year.

Western Digital Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Western Digital (NASDAQ:WDC)

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