Ossiam Sells 553,119 Shares of Western Digital Co. (NASDAQ:WDC)

Ossiam trimmed its stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 84.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 99,224 shares of the data storage provider's stock after selling 553,119 shares during the quarter. Ossiam's holdings in Western Digital were worth $5,917,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Western Digital during the fourth quarter worth $352,572,000. AMF Tjanstepension AB acquired a new position in shares of Western Digital during the 4th quarter worth $94,181,000. Vanguard Group Inc. lifted its position in shares of Western Digital by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 42,459,767 shares of the data storage provider's stock worth $2,531,876,000 after buying an additional 1,439,149 shares during the last quarter. Geode Capital Management LLC boosted its stake in Western Digital by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 8,745,264 shares of the data storage provider's stock valued at $520,450,000 after buying an additional 823,656 shares in the last quarter. Finally, Parnassus Investments LLC grew its position in 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 valued at $177,700,000 after acquiring an additional 586,924 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital 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 transaction, the senior vice president now directly owns 43,776 shares of the company's stock, valued at $1,810,575.36. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WDC shares. Mizuho reduced their price target on shares of Western Digital from $82.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. Citigroup lowered their price target on shares of Western Digital from $64.00 to $48.00 and set a "buy" rating for the company in a report on Monday, April 14th. Cantor Fitzgerald reduced their price objective on Western Digital from $95.00 to $65.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. The Goldman Sachs Group lifted their price target on Western Digital from $70.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, Barclays dropped their price objective on shares of Western Digital from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Friday, January 17th. One 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, the company has a consensus rating of "Moderate Buy" and an average price target of $73.68.

Western Digital Trading Up 2.5 %

Shares of Western Digital stock opened at $36.51 on Friday. Western Digital Co. has a 52 week low of $28.83 and a 52 week high of $81.55. The stock has a 50 day moving average price of $45.41 and a two-hundred day moving average price of $58.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The stock has a market capitalization of $12.70 billion, a PE ratio of 8.69 and a beta of 1.39.

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

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.

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