ORG Partners LLC Grows Stock Position in Western Digital Co. (NASDAQ:WDC)

ORG Partners LLC increased its stake in shares of Western Digital Co. (NASDAQ:WDC) by 225.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,569 shares of the data storage provider’s stock after acquiring an additional 1,087 shares during the quarter. ORG Partners LLC’s holdings in Western Digital were worth $120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Western Digital by 5.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,457 shares of the data storage provider’s stock worth $3,899,000 after purchasing an additional 3,713 shares during the last quarter. Cerity Partners LLC increased its holdings in Western Digital by 634.4% in the 4th quarter. Cerity Partners LLC now owns 93,926 shares of the data storage provider’s stock worth $4,919,000 after buying an additional 81,137 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in Western Digital during the fourth quarter valued at approximately $216,000. Louisiana State Employees Retirement System purchased a new position in Western Digital in the fourth quarter worth about $1,026,000. Finally, Sfmg LLC bought a new stake in Western Digital during the fourth quarter valued at about $213,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on WDC shares. Benchmark lifted their target price on shares of Western Digital from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $100.00 price objective on shares of Western Digital in a research note on Thursday, August 1st. Loop Capital increased their price objective on shares of Western Digital from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Summit Insights lowered Western Digital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Susquehanna reduced their target price on Western Digital from $88.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Western Digital has an average rating of “Moderate Buy” and a consensus price target of $84.41.

Insider Transactions at Western Digital

In related news, EVP Robert Soderbery sold 26,853 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $73.48, for a total value of $1,973,158.44. Following the sale, the executive vice president now owns 144,623 shares of the company’s stock, valued at $10,626,898.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Gene M. Zamiska sold 416 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total value of $29,902.08. Following the transaction, the senior vice president now owns 30,321 shares in the company, valued at approximately $2,179,473.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Soderbery sold 26,853 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were 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 directly owns 144,623 shares in the company, valued at approximately $10,626,898.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,642 shares of company stock valued at $2,714,014. 0.28% of the stock is currently owned by company insiders.

Western Digital Trading Up 2.1 %

Shares of WDC traded up $1.31 during midday trading on Thursday, hitting $62.82. 1,018,341 shares of the stock were exchanged, compared to its average volume of 6,587,909. The stock has a fifty day simple moving average of $72.04 and a 200 day simple moving average of $68.30. Western Digital Co. has a 52-week low of $35.62 and a 52-week high of $81.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83 and a current ratio of 1.41. The firm has a market cap of $20.51 billion, a P/E ratio of -12.38 and a beta of 1.37.

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.