State of Alaska Department of Revenue Sells 13,125 Shares of Western Digital Co. (NASDAQ:WDC)

State of Alaska Department of Revenue lessened its stake in shares of Western Digital Co. (NASDAQ:WDC) by 20.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,086 shares of the data storage provider’s stock after selling 13,125 shares during the quarter. State of Alaska Department of Revenue’s holdings in Western Digital were worth $3,488,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fairfield Financial Advisors LTD purchased a new stake in shares of Western Digital during the second quarter valued at approximately $29,000. Eastern Bank purchased a new stake in shares of Western Digital during the third quarter valued at approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of Western Digital during the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Western Digital during the second quarter valued at approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Western Digital in the second quarter worth $34,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

WDC has been the subject of a number of research analyst reports. BNP Paribas dropped their price target on Western Digital from $95.00 to $90.00 in a research note on Thursday, October 24th. Morgan Stanley raised their price target on Western Digital from $94.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Evercore ISI reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Western Digital in a research note on Thursday, August 15th. Barclays raised their price target on Western Digital from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Benchmark reaffirmed a “buy” rating and issued a $92.00 price target on shares of Western Digital in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.09.

Insider Buying and Selling

In related news, CEO David Goeckeler sold 75,000 shares of Western Digital stock in a transaction dated 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 completion of the sale, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was 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 in the company, valued at $7,331,098.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 896,630 shares of the company’s stock, valued at approximately $63,051,021.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,715 shares of company stock worth $14,002,914. 0.30% of the stock is owned by corporate insiders.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $67.02 on Thursday. Western Digital Co. has a 1-year low of $38.43 and a 1-year high of $81.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.91. The business has a fifty day moving average price of $65.63 and a 200-day moving average price of $69.59. The company has a market capitalization of $23.17 billion, a PE ratio of 39.42 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the company earned ($1.97) EPS. Western Digital’s revenue for the quarter was up 48.9% on a year-over-year basis. As a group, equities analysts expect that Western Digital Co. will post 7.16 EPS for the current fiscal year.

About Western Digital

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.