Rep. Jefferson Shreve Sells Western Digital Co. (NASDAQ:WDC) Shares

Representative Jefferson Shreve (R-Indiana) recently sold shares of Western Digital Co. NASDAQ: WDC. In a filing disclosed on April 11th, the Representative disclosed that they had sold between $15,001 and $50,000 in Western Digital stock on March 13th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 - $50,000 in shares of Harley-Davidson NYSE: HOG on 3/31/2025.
• Purchased $50,001 - $100,000 in shares of Block NYSE: XYZ on 3/31/2025.
• Sold $15,001 - $50,000 in shares of DuPont de Nemours NYSE: DD on 3/31/2025.
• Purchased $15,001 - $50,000 in shares of United Community Banks NASDAQ: UCB on 3/31/2025.
• Sold $15,001 - $50,000 in shares of IDEX NYSE: IEX on 3/31/2025.
• Purchased $15,001 - $50,000 in shares of HNI NYSE: HNI on 3/31/2025.
• Sold $50,001 - $100,000 in shares of ServiceNow NYSE: NOW on 3/31/2025.
• Sold $15,001 - $50,000 in shares of Coinbase Global NASDAQ: COIN on 3/31/2025.
• Sold $15,001 - $50,000 in shares of Constellation Energy NASDAQ: CEG on 3/31/2025.
• Sold $50,001 - $100,000 in shares of Simon Property Group NYSE: SPG on 3/31/2025.

Western Digital Stock Performance

Shares of WDC traded up $0.89 during mid-day trading on Friday, reaching $36.51. The company's stock had a trading volume of 7,393,307 shares, compared to its average volume of 6,365,914. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. The stock has a market cap of $12.70 billion, a P/E ratio of 8.69 and a beta of 1.39. Western Digital Co. has a 1-year low of $28.83 and a 1-year high of $81.55. The business has a 50-day simple moving average of $45.41 and a two-hundred day simple moving average of $58.82.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. As a group, equities research analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the sale, the senior vice president now owns 43,776 shares of the company's stock, valued at $1,810,575.36. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Western Digital

A number of hedge funds have recently modified their holdings of the business. Quantinno Capital Management LP boosted its holdings in shares of Western Digital by 68.7% during the 3rd quarter. Quantinno Capital Management LP now owns 20,570 shares of the data storage provider's stock valued at $1,405,000 after purchasing an additional 8,378 shares during the last quarter. Wellington Management Group LLP grew its position in Western Digital by 20.4% in the 3rd quarter. Wellington Management Group LLP now owns 48,501 shares of the data storage provider's stock valued at $3,312,000 after acquiring an additional 8,217 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Western Digital by 43.9% in the third quarter. National Bank of Canada FI now owns 138,845 shares of the data storage provider's stock worth $9,482,000 after purchasing an additional 42,375 shares during the last quarter. MML Investors Services LLC increased its position in shares of Western Digital by 62.8% during the third quarter. MML Investors Services LLC now owns 27,282 shares of the data storage provider's stock worth $1,863,000 after acquiring an additional 10,524 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in Western Digital by 6.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 101,410 shares of the data storage provider's stock valued at $6,925,000 after purchasing an additional 5,986 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley initiated coverage on Western Digital in a report on Wednesday. They set an "overweight" rating and a $46.00 target price on the stock. Cantor Fitzgerald lowered their price objective on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Citigroup decreased their price target on Western Digital from $64.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Mizuho lowered their target price on Western Digital from $82.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Finally, Barclays decreased their price target on shares of Western Digital from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.68.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.