Naples Money Management LLC Invests $26,000 in Western Digital Co. (NASDAQ:WDC)

Naples Money Management LLC bought a new position in shares of Western Digital Co. (NASDAQ:WDC) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 500 shares of the data storage provider’s stock, valued at approximately $26,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Janiczek Wealth Management LLC acquired a new stake in Western Digital during the 3rd quarter worth about $28,000. Parkside Financial Bank & Trust boosted its position in Western Digital by 79.1% in the third quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock valued at $34,000 after buying an additional 330 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Western Digital in the 3rd quarter worth approximately $41,000. CVA Family Office LLC purchased a new position in Western Digital during the 4th quarter worth approximately $41,000. Finally, Fiduciary Group LLC acquired a new stake in Western Digital during the 1st quarter valued at approximately $48,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction on Monday, April 8th. The shares were sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the sale, the senior vice president now directly owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Kimberly Alexy sold 2,648 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the sale, the director now owns 20,509 shares in the company, valued at approximately $1,434,604.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $75.00, for a total transaction of $33,225.00. Following the completion of the transaction, the senior vice president now directly owns 30,958 shares in the company, valued at $2,321,850. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

Western Digital Stock Performance

NASDAQ:WDC opened at $66.05 on Friday. Western Digital Co. has a 52 week low of $31.97 and a 52 week high of $76.92. The company has a fifty day simple moving average of $63.71 and a two-hundred day simple moving average of $54.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.67.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Monday, January 29th. The data storage provider reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($1.30) by $0.61. Western Digital had a negative return on equity of 19.45% and a negative net margin of 19.90%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the business earned ($0.69) EPS. Western Digital’s revenue was down 2.4% on a year-over-year basis. Sell-side analysts predict that Western Digital Co. will post -2.21 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of Western Digital from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group upped their target price on Western Digital from $58.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Rosenblatt Securities raised shares of Western Digital from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Wells Fargo & Company increased their target price on shares of Western Digital from $72.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Finally, UBS Group lifted their price target on Western Digital from $65.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.17.

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.