Pure Financial Advisors LLC Makes New Investment in Western Digital Co. (NASDAQ:WDC)

Pure Financial Advisors LLC bought a new stake in Western Digital Co. (NASDAQ:WDC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,838 shares of the data storage provider’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDC. Mirae Asset Global Investments Co. Ltd. increased 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 valued at $3,899,000 after buying an additional 3,713 shares in the last quarter. Cerity Partners LLC boosted its holdings in Western Digital by 634.4% in the fourth quarter. Cerity Partners LLC now owns 93,926 shares of the data storage provider’s stock valued at $4,919,000 after acquiring an additional 81,137 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in Western Digital in the fourth quarter valued at about $216,000. Louisiana State Employees Retirement System bought a new position in Western Digital in the fourth quarter valued at about $1,026,000. Finally, Sfmg LLC bought a new position in Western Digital in the fourth quarter valued at about $213,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Up 0.9 %

Shares of Western Digital stock traded up $0.55 on Friday, reaching $64.05. 4,496,876 shares of the company were exchanged, compared to its average volume of 6,604,057. Western Digital Co. has a one year low of $35.62 and a one year high of $81.55. The company has a market capitalization of $20.91 billion, a price-to-earnings ratio of -12.89 and a beta of 1.37. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average of $71.58 and a 200 day moving average of $68.29.

Insider Activity at Western Digital

In related 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 sale, the executive vice president now owns 144,623 shares in the company, valued at approximately $10,626,898.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Gene M. Zamiska sold 416 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $71.88, for a total value of $29,902.08. Following the sale, the senior vice president now owns 30,321 shares in the company, valued at approximately $2,179,473.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Soderbery sold 26,853 shares of the stock in a transaction 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 sale, the executive vice president now owns 144,623 shares in the company, valued at approximately $10,626,898.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,642 shares of company stock worth $2,714,014. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

WDC has been the topic of several recent research reports. Barclays raised their price target on Western Digital from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Wedbush raised their price target on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Loop Capital raised their price target on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Citigroup raised their price target on Western Digital from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Evercore ISI restated an “outperform” rating and set a $85.00 target price on shares of Western Digital in a research report on Thursday. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Western Digital presently has an average rating of “Moderate Buy” and an average price target of $84.18.

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.