Edmond DE Rothschild Holding S.A. Purchases 6,470 Shares of Western Digital Co. (NASDAQ:WDC)

Edmond DE Rothschild Holding S.A. increased its holdings in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 9.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,048 shares of the data storage provider's stock after buying an additional 6,470 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Western Digital were worth $4,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in shares of Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after purchasing an additional 304 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Western Digital during the 4th quarter valued at about $29,000. True Wealth Design LLC raised its stake in shares of 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 acquiring an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Western Digital in the 4th quarter worth approximately $30,000. Finally, OFI Invest Asset Management bought a new stake in Western Digital during the fourth quarter worth approximately $36,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Price Performance

NASDAQ:WDC traded down $3.61 during mid-day trading on Friday, reaching $30.54. 22,935,796 shares of the company were exchanged, compared to its average volume of 6,164,432. 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 stock has a market cap of $10.62 billion, a PE ratio of 7.27 and a beta of 1.39. Western Digital Co. has a 12 month low of $29.76 and a 12 month high of $81.55. The company has a fifty day moving average of $52.70 and a 200 day moving average of $61.48.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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%. On average, research analysts anticipate that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Insider Activity at Western Digital

In other news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the transaction, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays lowered their target price on shares of Western Digital from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Cantor Fitzgerald dropped their price objective on Western Digital from $95.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company decreased their target price on Western Digital from $85.00 to $75.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. Rosenblatt Securities lowered their target price on Western Digital from $115.00 to $95.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Morgan Stanley cut their price target on Western Digital from $100.00 to $93.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.