Robert Soderbery Sells 30,767 Shares of Western Digital Co. (NASDAQ:WDC) Stock

Western Digital Co. (NASDAQ:WDC) EVP Robert Soderbery sold 30,767 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.01, for a total value of $2,092,463.67. Following the transaction, the executive vice president now owns 135,398 shares of the company’s stock, valued at $9,208,417.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Robert Soderbery also recently made the following trade(s):

• On Monday, August 5th, Robert Soderbery sold 12,154 shares of Western Digital stock. The stock was sold at an average price of $57.09, for a total transaction of $693,871.86.

Western Digital Stock Down 1.9 %

NASDAQ WDC traded down $1.28 on Wednesday, hitting $67.02. The stock had a trading volume of 4,665,802 shares, compared to its average volume of 6,180,927. The business’s fifty day moving average price is $65.63 and its 200 day moving average price is $69.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. Western Digital Co. has a 52-week low of $38.43 and a 52-week high of $81.55. The stock has a market cap of $23.17 billion, a price-to-earnings ratio of 39.42 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.23. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates 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 for the quarter was up 48.9% on a year-over-year basis. During the same period in the previous year, the company earned ($1.97) earnings per share. Equities research analysts anticipate that Western Digital Co. will post 7.16 earnings per share for the current year.

Wall Street Analyst Weigh In

WDC has been the topic of a number of research reports. TD Cowen reduced their target price on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Citigroup decreased their target price on Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of Western Digital in a research note on Friday, October 25th. StockNews.com upgraded Western Digital from a “sell” rating to a “hold” rating in a report on Saturday, July 6th. Finally, UBS Group cut their price target on Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.09.

Institutional Investors Weigh In On Western Digital

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in Western Digital by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 15,962 shares of the data storage provider’s stock valued at $1,209,000 after acquiring an additional 203 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Western Digital by 15.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after buying an additional 206 shares in the last quarter. Mather Group LLC. grew its position in Western Digital by 10.7% during the second quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock valued at $167,000 after buying an additional 213 shares during the period. Hanseatic Management Services Inc. increased its holdings in Western Digital by 2.3% in the second quarter. Hanseatic Management Services Inc. now owns 10,344 shares of the data storage provider’s stock valued at $784,000 after buying an additional 236 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Western Digital by 6.0% in the third quarter. Van ECK Associates Corp now owns 4,696 shares of the data storage provider’s stock valued at $313,000 after buying an additional 267 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

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.