Brighton Jones LLC Increases Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Brighton Jones LLC increased its position in shares of Western Digital Co. (NASDAQ:WDC) by 181.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Eastern Bank purchased a new position in Western Digital in the third quarter valued at about $27,000. Fairfield Financial Advisors LTD purchased a new stake in Western Digital in the 2nd quarter worth approximately $29,000. Fidelis Capital Partners LLC purchased a new stake in Western Digital in the 1st quarter valued at about $30,000. OFI Invest Asset Management purchased a new stake in Western Digital in the second quarter valued at approximately $34,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Western Digital during the 2nd quarter worth $34,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Western Digital

In other news, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the transaction, the executive vice president now owns 128,413 shares of the company’s stock, valued at approximately $7,331,098.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $57.09, for a total value 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 approximately $7,331,098.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Goeckeler sold 75,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 896,630 shares in the company, valued at $63,051,021.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of research analyst reports. Summit Insights downgraded shares of Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup dropped their target price on Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group reduced their price objective on shares of Western Digital from $74.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday. Benchmark reissued a “buy” rating and issued a $92.00 target price on shares of Western Digital in a research report on Friday. Finally, TD Cowen reduced their price target on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.09.

Western Digital Stock Up 4.7 %

WDC stock opened at $69.45 on Friday. 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 firm’s 50-day simple moving average is $65.42 and its 200 day simple moving average is $69.70. The stock has a market cap of $22.68 billion, a PE 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.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates 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, sell-side analysts predict that Western Digital Co. will post 7.75 EPS for the current 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.