Western Digital Corporation $WDC Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lessened its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,024 shares of the data storage provider’s stock after selling 4,225 shares during the quarter. New York Life Investment Management LLC’s holdings in Western Digital were worth $3,073,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WDC. Private Wealth Management Group LLC grew its holdings in Western Digital by 102.5% during the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after buying an additional 202 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Western Digital during the 1st quarter valued at $29,000. CNB Bank acquired a new stake in Western Digital during the 2nd quarter valued at $37,000. Allworth Financial LP grew its holdings in Western Digital by 34.1% during the 1st quarter. Allworth Financial LP now owns 955 shares of the data storage provider’s stock valued at $38,000 after buying an additional 243 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its holdings in Western Digital by 178.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 668 shares of the data storage provider’s stock valued at $42,000 after buying an additional 428 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Western Digital Price Performance

Shares of Western Digital stock opened at $138.13 on Friday. Western Digital Corporation has a twelve month low of $28.83 and a twelve month high of $145.68. The stock has a market capitalization of $47.35 billion, a P/E ratio of 26.82, a PEG ratio of 1.14 and a beta of 1.77. The company has a current ratio of 1.08, a quick ratio of 0.84 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average price is $108.73 and its 200 day moving average price is $75.75.

Western Digital (NASDAQ:WDC) last issued its earnings results on Monday, April 7th. The data storage provider reported $1.78 earnings per share for the quarter. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The firm had revenue of $4.10 billion for the quarter. As a group, research analysts anticipate that Western Digital Corporation will post 4.89 earnings per share for the current year.

Insider Transactions at Western Digital

In related news, SVP Gene M. Zamiska sold 3,160 shares of Western Digital stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $75.68, for a total value of $239,148.80. Following the transaction, the senior vice president owned 31,560 shares in the company, valued at approximately $2,388,460.80. This trade represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cynthia L. Tregillis sold 14,067 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $74.78, for a total value of $1,051,930.26. Following the completion of the transaction, the insider directly owned 135,351 shares in the company, valued at $10,121,547.78. This trade represents a 9.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,730 shares of company stock worth $3,921,594 over the last ninety days. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WDC. Citigroup raised their price objective on Western Digital from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, October 13th. UBS Group raised their price objective on Western Digital from $85.00 to $135.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Benchmark raised their price objective on Western Digital from $85.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Loop Capital raised their price objective on Western Digital from $92.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Rosenblatt Securities raised their price objective on Western Digital from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Western Digital presently has a consensus rating of “Moderate Buy” and an average price target of $109.84.

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.