10,241 Shares in Western Digital Co. (NASDAQ:WDC) Bought by Allstate Corp

Allstate Corp acquired a new position in shares of Western Digital Co. (NASDAQ:WDC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,241 shares of the data storage provider’s stock, valued at approximately $611,000.

Other large investors have also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its holdings in shares of Western Digital by 19.1% in the 3rd quarter. D.A. Davidson & CO. now owns 6,235 shares of the data storage provider’s stock valued at $426,000 after purchasing an additional 1,000 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Western Digital by 12.7% in the third quarter. Public Sector Pension Investment Board now owns 14,210 shares of the data storage provider’s stock valued at $970,000 after buying an additional 1,600 shares in the last quarter. Captrust Financial Advisors grew its position in Western Digital by 21.8% in the third quarter. Captrust Financial Advisors now owns 11,177 shares of the data storage provider’s stock valued at $763,000 after acquiring an additional 1,998 shares during the last quarter. HighVista Strategies LLC raised its stake in Western Digital by 5.9% during the third quarter. HighVista Strategies LLC now owns 25,000 shares of the data storage provider’s stock worth $1,707,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of Western Digital by 4.2% in the third quarter. Itau Unibanco Holding S.A. now owns 15,635 shares of the data storage provider’s stock worth $1,068,000 after acquiring an additional 635 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the sale, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Western Digital Stock Up 1.1 %

Shares of Western Digital stock opened at $40.89 on Wednesday. The stock’s 50-day moving average is $54.67 and its 200 day moving average is $62.08. Western Digital Co. has a one year low of $39.10 and a one year high of $81.55. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 9.74 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Equities research analysts anticipate that Western Digital Co. will post 4.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WDC. The Goldman Sachs Group upped their price objective on shares of Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Citigroup upped their price target on shares of Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Mizuho cut their price objective on Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Cantor Fitzgerald lowered their target price on Western Digital from $95.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, UBS Group cut their price target on Western Digital from $74.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Western Digital has an average rating of “Moderate Buy” and an average target price of $80.21.

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.