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

Artemis Investment Management LLP lessened its holdings in Western Digital Co. (NASDAQ:WDC) by 19.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,471,433 shares of the data storage provider’s stock after selling 615,156 shares during the period. Western Digital comprises 2.1% of Artemis Investment Management LLP’s investment portfolio, making the stock its 6th biggest holding. Artemis Investment Management LLP owned 0.76% of Western Digital worth $168,578,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WDC. Mariner LLC grew its stake in shares of Western Digital by 239.7% in the 3rd quarter. Mariner LLC now owns 86,888 shares of the data storage provider’s stock worth $3,965,000 after acquiring an additional 61,309 shares in the last quarter. Northern Trust Corp increased its stake in Western Digital by 2.9% in the 3rd quarter. Northern Trust Corp now owns 3,268,764 shares of the data storage provider’s stock valued at $149,154,000 after buying an additional 92,009 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Western Digital by 0.9% during the 3rd quarter. Natixis Advisors L.P. now owns 37,156 shares of the data storage provider’s stock worth $1,695,000 after buying an additional 338 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Western Digital by 79.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock worth $34,000 after buying an additional 330 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Western Digital by 15.2% in the third quarter. Bank of Nova Scotia now owns 29,869 shares of the data storage provider’s stock valued at $1,363,000 after acquiring an additional 3,937 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling at Western Digital

In other Western Digital news, EVP Robert Soderbery sold 26,853 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the transaction, the executive vice president now owns 144,623 shares in the company, valued at $10,626,898.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Kimberly Alexy sold 2,648 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the transaction, the director now owns 20,509 shares of the company’s stock, valued at approximately $1,434,604.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Soderbery sold 26,853 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $73.48, for a total value of $1,973,158.44. Following the completion of the sale, the executive vice president now directly owns 144,623 shares in the company, valued at $10,626,898.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,579 shares of company stock valued at $2,238,595. 0.28% of the stock is currently owned by corporate insiders.

Western Digital Trading Down 1.1 %

Western Digital stock traded down $0.85 during trading hours on Friday, reaching $75.77. The stock had a trading volume of 8,582,810 shares, compared to its average volume of 6,530,630. The company has a fifty day simple moving average of $74.07 and a 200-day simple moving average of $64.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.07. Western Digital Co. has a 52 week low of $35.62 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, April 25th. The data storage provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.42. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.37 billion. Western Digital had a negative return on equity of 13.75% and a negative net margin of 12.87%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company earned ($1.57) EPS. As a group, sell-side analysts anticipate that Western Digital Co. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WDC has been the subject of several research analyst reports. Susquehanna raised their price target on shares of Western Digital from $80.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 11th. Wells Fargo & Company upped their price target on Western Digital from $72.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Robert W. Baird lifted their price objective on Western Digital from $65.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Bank of America upped their price objective on shares of Western Digital from $75.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $100.00 target price on shares of Western Digital in a research report on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.09.

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.