ORG Wealth Partners LLC Sells 321 Shares of Western Digital Co. (NASDAQ:WDC)

ORG Wealth Partners LLC reduced its stake in Western Digital Co. (NASDAQ:WDC) by 19.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,321 shares of the data storage provider’s stock after selling 321 shares during the quarter. ORG Wealth Partners LLC’s holdings in Western Digital were worth $79,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WDC. 1832 Asset Management L.P. raised its stake in Western Digital by 247.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,446,509 shares of the data storage provider’s stock worth $109,602,000 after acquiring an additional 1,029,658 shares during the period. Sachem Head Capital Management LP boosted its position in shares of Western Digital by 75.2% in the third quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider’s stock worth $138,629,000 after purchasing an additional 871,500 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Western Digital by 24.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock worth $253,453,000 after purchasing an additional 732,344 shares in the last quarter. Holocene Advisors LP raised its position in shares of Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock valued at $218,034,000 after purchasing an additional 651,847 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Western Digital by 304.9% during the 2nd quarter. Marshall Wace LLP now owns 709,386 shares of the data storage provider’s stock valued at $53,750,000 after buying an additional 534,168 shares in the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WDC has been the subject of a number of analyst reports. UBS Group cut their price target on Western Digital from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Morgan Stanley decreased their target price on 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 restated an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a research note on Friday, November 29th. Susquehanna lifted their price objective on shares of Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Barclays upped their target price on shares of Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.86.

Western Digital Stock Down 1.9 %

Shares of WDC opened at $62.82 on Friday. 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 business has a fifty day moving average of $65.95 and a 200 day moving average of $66.91. The company has a market cap of $21.72 billion, a PE ratio of 36.95 and a beta of 1.43. Western Digital Co. has a 52-week low of $49.68 and a 52-week high of $81.55.

Western Digital (NASDAQ:WDC) last released its 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. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the business earned ($1.97) EPS. The business’s revenue was up 48.9% on a year-over-year basis. On average, sell-side analysts expect that Western Digital Co. will post 6.56 EPS for the current year.

Insider Transactions at Western Digital

In related news, 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 value of $46,053.42. Following the completion of the sale, the senior vice president now owns 28,863 shares in the company, valued at approximately $2,020,121.37. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $72.58, for a total value of $5,443,500.00. Following the transaction, the chief executive officer now owns 821,630 shares in the company, valued at $59,633,905.40. The trade was a 8.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,107 shares of company stock worth $7,768,381. 0.30% of the stock is currently owned by company insiders.

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.