Arkadios Wealth Advisors Makes New Investment in Western Digital Co. (NASDAQ:WDC)

Arkadios Wealth Advisors bought a new position in Western Digital Co. (NASDAQ:WDC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 16,223 shares of the data storage provider’s stock, valued at approximately $1,108,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Western Digital by 1.3% in 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 buying an additional 203 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of 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 valued at $116,000 after acquiring an additional 206 shares during the last quarter. Mather Group LLC. lifted its holdings 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 worth $167,000 after acquiring an additional 213 shares during the period. Hanseatic Management Services Inc. boosted its position 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 worth $784,000 after purchasing an additional 236 shares during the last quarter. Finally, Blue Trust Inc. increased its position 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 valued at $62,000 after purchasing an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $95.00 price target on shares of Western Digital in a report on Friday. StockNews.com raised shares of Western Digital from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. Cantor Fitzgerald raised their price target on shares of Western Digital from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup dropped their price objective on Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Benchmark restated a “buy” rating and issued a $92.00 target price on shares of Western Digital in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.09.

Insiders Place Their Bets

In other 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 sale, the chief executive officer now owns 896,630 shares in the company, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Western Digital news, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 28,870 shares in the company, valued at $1,873,374.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the business’s 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 completion of the sale, the chief executive officer now owns 896,630 shares of the company’s stock, valued at approximately $63,051,021.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,955 shares of company stock valued at $6,327,560 in the last quarter. Corporate insiders own 0.28% of the company’s stock.

Western Digital Trading Up 4.7 %

Western Digital stock opened at $69.45 on Monday. The stock has a market cap of $22.68 billion, a P/E ratio of -13.97 and a beta of 1.39. Western Digital Co. has a fifty-two week low of $35.62 and a fifty-two week high of $81.55. The firm’s fifty day moving average price is $65.42 and its 200-day moving average price is $69.67. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.32.

Western Digital (NASDAQ:WDC) last announced its earnings results on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.23. Western Digital had a negative return on equity of 2.63% and a negative net margin of 3.75%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the company earned ($1.97) EPS. The company’s quarterly revenue was up 48.9% compared to the same quarter last year. Equities research analysts forecast that Western Digital Co. will post 7.75 earnings per share for the current fiscal year.

Western Digital 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.