Metis Global Partners LLC Has $1.05 Million Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Metis Global Partners LLC boosted its position in Western Digital Co. (NASDAQ:WDC) by 8.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 15,387 shares of the data storage provider’s stock after purchasing an additional 1,162 shares during the period. Metis Global Partners LLC’s holdings in Western Digital were worth $1,051,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bessemer Group Inc. raised its position in shares of Western Digital by 28.6% in the first quarter. Bessemer Group Inc. now owns 2,619 shares of the data storage provider’s stock valued at $179,000 after purchasing an additional 583 shares during the period. Aigen Investment Management LP grew its stake in Western Digital by 124.2% in the 3rd quarter. Aigen Investment Management LP now owns 21,412 shares of the data storage provider’s stock valued at $1,462,000 after buying an additional 11,860 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Western Digital by 137.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 43,575 shares of the data storage provider’s stock valued at $2,976,000 after acquiring an additional 25,262 shares during the period. KBC Group NV lifted its position in Western Digital by 11.2% during the third quarter. KBC Group NV now owns 277,010 shares of the data storage provider’s stock worth $18,917,000 after acquiring an additional 27,849 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in shares of Western Digital during the second quarter worth approximately $13,260,000. Institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Susquehanna lifted their target price on Western Digital from $75.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. The Goldman Sachs Group decreased their price target on shares of Western Digital from $79.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Citigroup dropped their price objective on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating for the company in a research note 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 report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

Western Digital Stock Down 0.7 %

Shares of NASDAQ:WDC opened at $62.80 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47. Western Digital Co. has a 52-week low of $45.23 and a 52-week high of $81.55. The company has a market capitalization of $21.71 billion, a PE ratio of 36.94 and a beta of 1.40. The company has a fifty day moving average of $66.30 and a 200-day moving average of $69.30.

Western Digital (NASDAQ:WDC) last posted its earnings results on Thursday, October 24th. The data storage provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.55 by $0.23. Western Digital had a return on equity of 8.57% and a net margin of 4.81%. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the company earned ($1.97) earnings per share. The business’s quarterly revenue was up 48.9% on a year-over-year basis. On average, equities analysts predict that Western Digital Co. will post 6.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Robert Soderbery sold 30,767 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.01, for a total value of $2,092,463.67. Following the completion of the sale, the executive vice president now owns 135,398 shares of the company’s stock, valued at approximately $9,208,417.98. This represents a 18.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Gene M. Zamiska sold 2,900 shares of Western Digital stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $61.48, for a total value of $178,292.00. Following the completion of the transaction, the senior vice president now directly owns 37,448 shares in the company, valued at approximately $2,302,303.04. This represents a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,561 shares of company stock valued at $13,309,042 in the last ninety days. 0.30% of the stock is currently owned by insiders.

Western Digital 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.