Western Digital Co. (NASDAQ:WDC) Shares Sold by DnB Asset Management AS

DnB Asset Management AS reduced its position in Western Digital Co. (NASDAQ:WDC - Free Report) by 27.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,733,138 shares of the data storage provider's stock after selling 2,876,734 shares during the quarter. Western Digital comprises about 2.0% of DnB Asset Management AS's holdings, making the stock its 9th largest position. DnB Asset Management AS owned approximately 2.22% of Western Digital worth $461,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WDC. Versant Capital Management Inc increased its holdings in Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock valued at $25,000 after buying an additional 304 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Western Digital in the 4th quarter worth approximately $29,000. True Wealth Design LLC increased its stake in Western Digital by 2,184.2% in the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider's stock valued at $30,000 after purchasing an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Western Digital during the fourth quarter worth $30,000. Finally, OFI Invest Asset Management purchased a new stake in Western Digital during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 92.51% of the company's stock.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the completion of the transaction, the senior vice president now directly owns 43,776 shares of the company's stock, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.

Western Digital Trading Up 0.3 %

NASDAQ:WDC traded up $0.14 on Tuesday, hitting $40.57. 1,472,703 shares of the stock were exchanged, compared to its average volume of 6,096,195. The stock has a market cap of $14.11 billion, a PE ratio of 9.71 and a beta of 1.42. Western Digital Co. has a fifty-two week low of $39.10 and a fifty-two week 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. The stock has a fifty day moving average of $55.20 and a 200-day moving average of $62.25.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings data 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%. As a group, equities analysts expect that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WDC. Cantor Fitzgerald dropped their target price on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Wells Fargo & Company reduced their target price on Western Digital from $85.00 to $75.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 25th. Mizuho cut their price target on Western Digital from $90.00 to $82.00 and set an "outperform" rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group upped their price objective on Western Digital from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Susquehanna cut their target price on shares of Western Digital from $83.00 to $72.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.