Ghisallo Capital Management LLC Invests $13.26 Million in Western Digital Co. (NASDAQ:WDC)

Ghisallo Capital Management LLC purchased a new stake in shares of Western Digital Co. (NASDAQ:WDC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 175,000 shares of the data storage provider’s stock, valued at approximately $13,260,000. Western Digital accounts for approximately 0.8% of Ghisallo Capital Management LLC’s holdings, making the stock its 27th biggest holding. Ghisallo Capital Management LLC owned about 0.05% of Western Digital at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new position in Western Digital during the first quarter worth about $25,000. Fairfield Financial Advisors LTD purchased a new position in shares of Western Digital during the 2nd quarter worth approximately $29,000. Fidelis Capital Partners LLC acquired a new stake in Western Digital in the 1st quarter valued at approximately $30,000. SOA Wealth Advisors LLC. purchased a new stake in Western Digital in the first quarter valued at approximately $31,000. Finally, OFI Invest Asset Management acquired a new position in Western Digital during the second quarter worth $34,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of Western Digital 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 transaction, the chief executive officer now owns 896,630 shares of the company’s stock, valued at $63,051,021.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction 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 directly owns 896,630 shares of the company’s stock, valued at approximately $63,051,021.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the transaction, the senior vice president now owns 28,870 shares in the company, valued at $1,873,374.30. The disclosure for this sale can be found here. In the last three months, insiders sold 92,955 shares of company stock valued at $6,327,560. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WDC. Susquehanna dropped their price objective on Western Digital from $88.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. TD Cowen dropped 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. Cantor Fitzgerald reissued an “overweight” rating and set a $80.00 price target on shares of Western Digital in a research report on Tuesday, September 10th. StockNews.com raised shares of Western Digital from a “sell” rating to a “hold” rating in a research note on Saturday, July 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 target price on shares of Western Digital in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.24.

Western Digital Stock Performance

Shares of Western Digital stock opened at $66.76 on Wednesday. The firm has a market capitalization of $22.93 billion, a P/E ratio of -13.43 and a beta of 1.39. The company has a quick ratio of 0.78, a current ratio of 1.32 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. The firm’s 50 day moving average is $63.88 and its two-hundred day moving average is $69.80.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.08 by $0.17. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.77 billion. Research analysts forecast that Western Digital Co. will post 7.75 EPS for the current fiscal 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.