Cerity Partners LLC Sells 56,514 Shares of Western Digital Co. (NASDAQ:WDC)

Cerity Partners LLC cut its position in Western Digital Co. (NASDAQ:WDC - Free Report) by 37.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,047 shares of the data storage provider's stock after selling 56,514 shares during the quarter. Cerity Partners LLC's holdings in Western Digital were worth $5,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of WDC. Wellington Management Group LLP boosted its position in shares of Western Digital by 20.4% in the third 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 period. MML Investors Services LLC raised its position in 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 valued at $1,863,000 after purchasing an additional 10,524 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Western Digital by 13.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,285 shares of the data storage provider's stock worth $1,348,000 after buying an additional 2,371 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Western Digital in the 3rd quarter valued at approximately $183,000. Finally, Tidal Investments LLC lifted its stake in shares of Western Digital by 123.5% in the 3rd quarter. Tidal Investments LLC now owns 41,028 shares of the data storage provider's stock valued at $2,802,000 after acquiring an additional 22,670 shares during the last quarter. Institutional investors own 92.51% of the company's stock.

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Western Digital Stock Up 0.3 %

Shares of NASDAQ WDC traded up $0.11 during midday trading on Tuesday, hitting $35.93. The stock had a trading volume of 6,194,134 shares, compared to its average volume of 6,345,873. The company has a market cap of $12.50 billion, a P/E ratio of 8.55 and a beta of 1.39. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The business's 50 day moving average is $47.29 and its 200-day moving average is $59.47. Western Digital Co. has a 52 week low of $28.83 and a 52 week high of $81.55.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate 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, analysts predict that Western Digital Co. will post 4.89 EPS for the current year.

Analyst Upgrades and Downgrades

WDC has been the subject of several analyst reports. Benchmark raised Western Digital from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research report on Thursday, April 10th. Cantor Fitzgerald decreased their target price 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. StockNews.com started coverage on shares of Western Digital in a report on Tuesday, April 8th. They set a "hold" rating on the stock. Barclays decreased their price target on Western Digital from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Robert W. Baird reduced their target price on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Western Digital presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.16.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 1,659 shares of the firm's stock in a transaction 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 sale, the senior vice president now directly owns 43,776 shares in the company, valued at $1,810,575.36. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by insiders.

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.