Headlands Technologies LLC Acquires 3,738 Shares of Western Digital Co. (NASDAQ:WDC)

Headlands Technologies LLC grew its holdings in Western Digital Co. (NASDAQ:WDC) by 106.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,240 shares of the data storage provider’s stock after acquiring an additional 3,738 shares during the period. Headlands Technologies LLC’s holdings in Western Digital were worth $379,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WDC. Naples Money Management LLC bought a new stake in shares of Western Digital during the 4th quarter valued at $26,000. Lindbrook Capital LLC raised its position in shares of Western Digital by 121.7% during the 4th quarter. Lindbrook Capital LLC now owns 614 shares of the data storage provider’s stock valued at $32,000 after purchasing an additional 337 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Western Digital by 79.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 330 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Western Digital during the 3rd quarter valued at $41,000. Finally, CVA Family Office LLC purchased a new position in Western Digital during the fourth quarter valued at $41,000. 92.51% of the stock is currently owned by institutional investors.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares in the company, valued at approximately $2,321,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares in the company, valued at approximately $2,321,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimberly Alexy sold 2,648 shares of Western Digital stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.95, for a total transaction of $185,227.60. Following the sale, the director now owns 20,509 shares of the company’s stock, valued at approximately $1,434,604.55. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

WDC has been the subject of several research analyst reports. Mizuho raised their target price on shares of Western Digital from $66.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group raised their target price on shares of Western Digital from $58.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft raised shares of Western Digital from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $65.00 in a research note on Tuesday, January 16th. Robert W. Baird raised their target price on shares of Western Digital from $65.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday. Finally, TD Cowen raised their target price on shares of Western Digital from $50.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Western Digital presently has an average rating of “Moderate Buy” and an average price target of $77.25.

Western Digital Price Performance

Western Digital stock opened at $71.36 on Friday. The firm has a 50-day moving average price of $65.08 and a 200-day moving average price of $55.03. The firm has a market capitalization of $23.25 billion, a PE ratio of -14.36 and a beta of 1.57. The company has a current ratio of 1.67, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. Western Digital Co. has a 12-month low of $32.01 and a 12-month high of $76.92.

Western Digital (NASDAQ:WDC) last released its earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.42. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.37 billion. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.67%. The business’s revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the business earned ($1.57) EPS. As a group, equities research analysts forecast that Western Digital Co. will post -2.21 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.