Western Digital Co. (NASDAQ:WDC) Shares Bought by Brighton Jones LLC

Brighton Jones LLC grew its position in shares of Western Digital Co. (NASDAQ:WDC) by 181.5% during the 3rd quarter, Holdings Channel reports. The firm owned 9,927 shares of the data storage provider’s stock after purchasing an additional 6,400 shares during the period. Brighton Jones LLC’s holdings in Western Digital were worth $678,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 worth $1,209,000 after acquiring an additional 203 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Western Digital by 15.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,527 shares of the data storage provider’s stock worth $116,000 after acquiring an additional 206 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Western Digital by 10.7% during the 2nd quarter. Mather Group LLC. now owns 2,203 shares of the data storage provider’s stock worth $167,000 after acquiring an additional 213 shares in the last quarter. Hanseatic Management Services Inc. boosted its stake in shares of 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 acquiring an additional 236 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Western Digital by 51.2% during the 3rd quarter. Blue Trust Inc. now owns 818 shares of the data storage provider’s stock worth $62,000 after acquiring an additional 277 shares in the last quarter. 92.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WDC has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $115.00 price target on shares of Western Digital in a report on Friday. BNP Paribas lowered their price target on Western Digital from $95.00 to $90.00 in a report on Thursday. Benchmark reiterated a “buy” rating and set a $92.00 price target on shares of Western Digital in a report on Friday. Susquehanna lifted their price target on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a report on Friday. Finally, Morgan Stanley lifted their price target on Western Digital from $94.00 to $100.00 and gave the company an “overweight” rating in a report on Friday. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Western Digital currently has a consensus rating of “Moderate Buy” and an average target price of $86.09.

Western Digital Price Performance

NASDAQ WDC opened at $69.45 on Friday. Western Digital Co. has a twelve month low of $35.62 and a twelve month high of $81.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32. The stock has a market capitalization of $22.68 billion, a PE ratio of -13.97 and a beta of 1.39. The stock has a 50-day simple moving average of $65.42 and a 200 day simple moving average of $69.70.

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

Insider Activity

In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Western Digital news, CEO David Goeckeler sold 75,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was 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 directly owns 896,630 shares of the company’s stock, valued at $63,051,021.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction of $693,871.86. Following the completion of the sale, the executive vice president now directly owns 128,413 shares of the company’s stock, valued at $7,331,098.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,955 shares of company stock valued at $6,327,560 in the last 90 days. 0.28% of the stock is 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.