CloudAlpha Capital Management Limited Hong Kong Sells 74,731 Shares of Western Digital Co. (NASDAQ:WDC)

CloudAlpha Capital Management Limited Hong Kong lowered its stake in Western Digital Co. (NASDAQ:WDC) by 44.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,569 shares of the data storage provider’s stock after selling 74,731 shares during the period. Western Digital accounts for about 0.6% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 13th largest holding. CloudAlpha Capital Management Limited Hong Kong’s holdings in Western Digital were worth $6,938,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blair William & Co. IL increased its stake in Western Digital by 7.7% during the 2nd quarter. Blair William & Co. IL now owns 19,270 shares of the data storage provider’s stock valued at $1,460,000 after purchasing an additional 1,375 shares in the last quarter. O Brien Greene & Co. Inc lifted its stake in shares of Western Digital by 151.5% in the second quarter. O Brien Greene & Co. Inc now owns 116,786 shares of the data storage provider’s stock worth $8,849,000 after buying an additional 70,353 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Western Digital by 16.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 23,711 shares of the data storage provider’s stock valued at $1,754,000 after buying an additional 3,274 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Western Digital by 17.1% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,331 shares of the data storage provider’s stock valued at $404,000 after acquiring an additional 777 shares in the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd raised its holdings in Western Digital by 238.3% in the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 317,455 shares of the data storage provider’s stock worth $24,054,000 after acquiring an additional 223,623 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Loop Capital increased their target price on Western Digital from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. TD Cowen dropped their price target on Western Digital from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Wedbush upped their price objective on Western Digital from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 target price on shares of Western Digital in a research report on Tuesday, September 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $115.00 price target on shares of Western Digital in a research report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus price target of $83.05.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the transaction, the senior vice president now owns 28,870 shares in the company, valued at $1,873,374.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.09, for a total value of $693,871.86. Following the completion of the sale, the executive vice president now directly owns 128,413 shares in the company, valued at approximately $7,331,098.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Gene M. Zamiska sold 417 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total transaction of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares of the company’s stock, valued at $1,873,374.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,955 shares of company stock worth $1,053,560. Insiders own 0.28% of the company’s stock.

Western Digital Stock Performance

Shares of WDC opened at $65.89 on Wednesday. Western Digital Co. has a 12-month low of $35.62 and a 12-month high of $81.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.32 and a quick ratio of 0.78. The business’s 50 day moving average is $65.72 and its 200 day moving average is $69.48.

Western Digital (NASDAQ:WDC) last released its quarterly earnings data on Wednesday, July 31st. The data storage provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.08 by $0.17. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.77 billion. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. Equities research analysts expect that Western Digital Co. will post 7.75 EPS for the current fiscal year.

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.