Western Digital Co. (NASDAQ:WDC) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC grew its position in Western Digital Co. (NASDAQ:WDC) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,285 shares of the data storage provider’s stock after purchasing an additional 2,371 shares during the period. Sanctuary Advisors LLC’s holdings in Western Digital were worth $1,348,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its stake in shares of Western Digital by 5.4% during the third quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after purchasing an additional 149 shares during the period. Quarry LP boosted its holdings in Western Digital by 22.6% in the third quarter. Quarry LP now owns 932 shares of the data storage provider’s stock valued at $64,000 after purchasing an additional 172 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Western Digital by 1.3% during the 2nd 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 in the last quarter. Hanseatic Management Services Inc. increased its holdings in Western Digital by 2.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock worth $784,000 after purchasing an additional 236 shares during the last quarter. Finally, Empirical Finance LLC raised its position in shares of Western Digital by 2.4% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

Shares of WDC opened at $60.24 on Friday. The firm has a market capitalization of $20.83 billion, a PE ratio of 35.44 and a beta of 1.42. 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 firm has a 50-day moving average price of $67.50 and a 200 day moving average price of $68.50. Western Digital Co. has a 52-week low of $48.96 and a 52-week high of $81.55.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WDC. The Goldman Sachs Group decreased their price objective on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Barclays upped their price target on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley reduced their price objective on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday. BNP Paribas dropped their target price on shares of Western Digital from $95.00 to $90.00 in a report on Thursday, October 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $115.00 price target on shares of Western Digital in a report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.33.

Insider Transactions at Western Digital

In other news, CEO David Goeckeler sold 75,000 shares of Western Digital stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total value 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 trade was a 7.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Gene M. Zamiska sold 658 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the completion of the sale, the senior vice president now owns 28,863 shares in the company, valued at $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,107 shares of company stock valued at $13,042,381. Corporate insiders own 0.30% of the company’s stock.

About Western Digital

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.