Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Western Digital Corp shares valued at $2,092,519 were sold by SODERBERY ROBERT on Oct 29 ’24. At $68.01 per share, SODERBERY ROBERT sold 30,767 shares. The insider’s holdings dropped to 135,398 shares worth approximately $8.84 million following the completion of this transaction.
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Also, SODERBERY ROBERT purchased 30,767 shares, netting a total of over 2,092,520 in proceeds.
Before that, Zamiska Gene M. had sold 1,993 shares from its account. In a trade valued at $139,390, the SVP & Princ. Acctg Officer traded Western Digital Corp shares for $69.94 each. Upon closing the transaction, the insider’s holdings decreased to 1,993 shares, worth approximately $2.0 million.
As published in a research note from TD Cowen on September 13, 2024, Western Digital Corp [WDC] has been retained to a Buy and the price target has been revised to $80. Analysts at Summit Insights downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early August. As of May 14, 2024, Citigroup has initiated its “Buy” rating for WDC. Earlier on April 26, 2024, The Benchmark Company upgraded its rating. Their new recommendation was “a Buy” for WDC stock which previously was a “a Hold”.
Analyzing WDC Stock Performance
During the last five days, there has been a drop of approximately -1.52%. Over the course of the year, Western Digital Corp shares have jumped approximately 24.71%. Shares of the company reached a 52-week high of $81.55 on 06/18/24 and a 52-week low of $48.96 on 01/10/24. A 50-day SMA is recorded $65.63, while a 200-day SMA reached $67.07. Nevertheless, trading volume fell to 4.4 million shares from 4.69 million shares the previous day.
Support And Resistance Levels for Western Digital Corp (WDC)
According to the 24-hour chart, there is a support level at 64.39, which, if violated, would cause prices to drop to 63.46. In the upper region, resistance lies at 66.85. The next price resistance is at 68.38. RSI (Relative Strength Index) is 44.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.53, which suggests the price will decrease in the coming days. Percent R is at 96.35%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
