B. Metzler seel. Sohn & Co. AG Buys 9,460 Shares of Western Digital Co. (NASDAQ:WDC)

B. Metzler seel. Sohn & Co. AG raised its stake in Western Digital Co. (NASDAQ:WDC - Free Report) by 64.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,130 shares of the data storage provider's stock after buying an additional 9,460 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Western Digital were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Western Digital during the fourth quarter worth $352,572,000. AMF Tjanstepension AB bought a new position in Western Digital during the fourth quarter worth about $94,181,000. Vanguard Group Inc. grew its stake in Western Digital by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider's stock valued at $2,531,876,000 after acquiring an additional 1,439,149 shares during the period. Sachem Head Capital Management LP grew its stake in Western Digital by 75.2% in the third quarter. Sachem Head Capital Management LP now owns 2,030,000 shares of the data storage provider's stock valued at $138,629,000 after acquiring an additional 871,500 shares during the period. Finally, Parnassus Investments LLC increased its holdings in shares of Western Digital by 24.5% in the fourth quarter. Parnassus Investments LLC now owns 2,980,047 shares of the data storage provider's stock worth $177,700,000 after acquiring an additional 586,924 shares in the last quarter. Institutional investors own 92.51% of the company's stock.

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Insider Transactions at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total value 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 approximately $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Western Digital Stock Performance

Shares of NASDAQ:WDC traded down $3.61 on Friday, hitting $30.54. The company had a trading volume of 22,935,796 shares, compared to its average volume of 6,173,072. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 7.27 and a beta of 1.39. The stock has a 50 day moving average price of $52.70 and a 200 day moving average price of $61.51. Western Digital Co. has a 1-year low of $29.77 and a 1-year high of $81.55. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup boosted their price objective on Western Digital from $60.45 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Bank of America lowered their price objective on shares of Western Digital from $89.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Barclays cut their price objective on shares of Western Digital from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. StockNews.com cut Western Digital from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, Susquehanna cut their price target on Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Western Digital has a consensus rating of "Moderate Buy" and an average target price of $80.21.

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.