O Brien Greene & Co. Inc Sells 8,164 Shares of Western Digital Co. (NASDAQ:WDC)

O Brien Greene & Co. Inc cut its position in shares of Western Digital Co. (NASDAQ:WDC) by 7.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,622 shares of the data storage provider’s stock after selling 8,164 shares during the quarter. Western Digital accounts for about 2.3% of O Brien Greene & Co. Inc’s portfolio, making the stock its 17th biggest holding. O Brien Greene & Co. Inc’s holdings in Western Digital were worth $7,418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fairfield Financial Advisors LTD acquired a new position in Western Digital during the second quarter valued at approximately $29,000. Eastern Bank bought a new stake in shares of Western Digital during the 3rd quarter worth approximately $27,000. True Wealth Design LLC boosted its holdings in shares of Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock valued at $30,000 after buying an additional 415 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Western Digital during the second quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Western Digital during the second quarter worth $34,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Western Digital

In other Western Digital news, 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 value of $5,274,000.00. Following the sale, the chief executive officer now owns 896,630 shares in the company, valued at $63,051,021.60. This trade represents a 7.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Gene M. Zamiska sold 658 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $69.99, for a total transaction of $46,053.42. Following the transaction, the senior vice president now owns 28,863 shares of the company’s stock, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,107 shares of company stock valued at $13,042,381 over the last three months. 0.30% of the stock is owned by insiders.

Western Digital Price Performance

Western Digital stock opened at $71.07 on Monday. The firm has a market cap of $24.57 billion, a PE ratio of 41.81 and a beta of 1.42. Western Digital Co. has a one year low of $46.75 and a one 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 stock’s fifty day moving average price is $67.54 and its two-hundred day moving average price is $69.00.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.23. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. Western Digital’s revenue was up 48.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.97) earnings per share. As a group, research analysts expect that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WDC shares. TD Cowen dropped their target price on shares of Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Barclays increased their price target on Western Digital from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Western Digital in a research report on Friday, November 29th. The Goldman Sachs Group decreased their price objective on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Benchmark restated a “buy” rating and set a $92.00 target price 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 sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.71.

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.