Jump Financial LLC Has $3.38 Million Position in Western Digital Co. (NASDAQ:WDC)

Jump Financial LLC boosted its holdings in Western Digital Co. (NASDAQ:WDC - Free Report) by 200.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,526 shares of the data storage provider's stock after buying an additional 43,058 shares during the quarter. Jump Financial LLC's holdings in Western Digital were worth $3,379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WDC. Nomura Holdings Inc. raised its position in shares of Western Digital by 7.0% during the 3rd quarter. Nomura Holdings Inc. now owns 13,361,999 shares of the data storage provider's stock worth $609,708,000 after acquiring an additional 870,971 shares in the last quarter. Maple Rock Capital Partners Inc. raised its holdings in Western Digital by 29.3% during the third quarter. Maple Rock Capital Partners Inc. now owns 2,486,333 shares of the data storage provider's stock worth $113,451,000 after purchasing an additional 563,232 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Western Digital by 8.6% during the 4th quarter. DNB Asset Management AS now owns 5,587,698 shares of the data storage provider's stock worth $292,628,000 after buying an additional 443,903 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Western Digital by 92.0% in the 3rd quarter. Principal Financial Group Inc. now owns 704,883 shares of the data storage provider's stock valued at $32,164,000 after buying an additional 337,757 shares in the last quarter. Finally, Sandler Capital Management purchased a new position in shares of Western Digital in the 3rd quarter valued at $13,680,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WDC has been the subject of a number of research reports. Morgan Stanley boosted their price target on shares of Western Digital from $83.00 to $86.00 and gave the company an "overweight" rating in a research report on Friday, April 26th. The Goldman Sachs Group increased their price objective on Western Digital from $58.00 to $76.00 and gave the company a "neutral" rating in a report on Friday, April 12th. Bank of America lifted their target price on shares of Western Digital from $75.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, April 17th. Cantor Fitzgerald raised their price objective on shares of Western Digital from $70.00 to $100.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. Finally, UBS Group lifted their price objective on shares of Western Digital from $65.00 to $80.00 and gave the company a "neutral" rating in a research note on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $77.76.

Insider Transactions at Western Digital

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

Western Digital Price Performance

Shares of NASDAQ:WDC traded down $0.49 during midday trading on Friday, hitting $71.60. 3,701,111 shares of the stock were exchanged, compared to its average volume of 6,741,855. Western Digital Co. has a twelve month low of $32.01 and a twelve month high of $76.92. The company has a current ratio of 1.86, a quick ratio of 1.07 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average price of $67.93 and a 200-day moving average price of $57.01. The stock has a market cap of $23.38 billion, a P/E ratio of -14.41 and a beta of 1.53.

Western Digital (NASDAQ:WDC - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The data storage provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.42. Western Digital had a negative net margin of 12.87% and a negative return on equity of 13.75%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter in the prior year, the firm earned ($1.57) earnings per share. The company's revenue for the quarter was up 23.3% compared to the same quarter last year. On average, research analysts forecast that Western Digital Co. will post -1.68 earnings per share for the current year.

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.