Western Digital Co. (NASDAQ:WDC) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lowered its stake in shares of Western Digital Co. (NASDAQ:WDC) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,754 shares of the data storage provider’s stock after selling 243 shares during the quarter. Hartford Investment Management Co.’s holdings in Western Digital were worth $1,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised 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 valued at $1,209,000 after buying an additional 203 shares during the last quarter. Massmutual Trust Co. FSB ADV grew 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 acquiring an additional 206 shares during the period. Mather Group LLC. raised 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 acquiring an additional 213 shares in the last quarter. Hanseatic Management Services Inc. lifted 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 acquiring an additional 236 shares during the period. Finally, Blue Trust Inc. boosted its position in Western Digital by 51.2% in the 3rd quarter. Blue Trust Inc. now owns 818 shares of the data storage provider’s stock worth $62,000 after purchasing an additional 277 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO David Goeckeler sold 75,000 shares of the stock in a transaction 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 directly owns 896,630 shares of the company’s stock, valued at $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 is accessible through the SEC website. In other news, SVP Gene M. Zamiska sold 417 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of Western Digital 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 completion of the transaction, the chief executive officer now directly owns 896,630 shares in the company, valued at $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. Over the last quarter, insiders have sold 92,955 shares of company stock valued at $6,327,560. 0.28% of the stock is owned by corporate insiders.

Western Digital Stock Up 4.7 %

Shares of NASDAQ:WDC opened at $69.45 on Friday. Western Digital Co. has a fifty-two week low of $35.62 and a fifty-two week high of $81.55. The firm’s 50 day moving average price is $65.42 and its 200 day moving average price is $69.70. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 0.53. The stock has a market cap of $22.68 billion, a price-to-earnings ratio of -13.97 and a beta of 1.39.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wedbush restated an “outperform” rating and set a $95.00 price target on shares of Western Digital in a research report on Friday. Barclays raised their target price on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday. BNP Paribas reduced their price target on Western Digital from $95.00 to $90.00 in a report on Thursday. Benchmark reissued a “buy” rating and issued a $92.00 price objective on shares of Western Digital in a report on Friday. Finally, Evercore ISI restated an “outperform” rating and issued a $85.00 price objective on shares of Western Digital in a research report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.09.

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.