Pinebridge Investments L.P. Has $4.24 Million Stock Holdings in Western Digital Co. (NASDAQ:WDC)

Pinebridge Investments L.P. increased its position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 106.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,103 shares of the data storage provider's stock after buying an additional 36,647 shares during the period. Pinebridge Investments L.P.'s holdings in Western Digital were worth $4,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc grew its stake in shares of Western Digital by 278.9% in the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock worth $25,000 after acquiring an additional 304 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of Western Digital during the 4th quarter worth about $29,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Western Digital in the fourth quarter valued at about $30,000. OFI Invest Asset Management acquired a new position in Western Digital in the 4th quarter valued at approximately $36,000. Finally, S.A. Mason LLC bought a new stake in shares of Western Digital during the fourth quarter valued at approximately $45,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Western Digital Stock Down 0.7 %

Shares of Western Digital stock traded down $0.29 on Tuesday, hitting $40.62. The company had a trading volume of 6,862,214 shares, compared to its average volume of 6,298,263. Western Digital Co. has a twelve month low of $28.83 and a twelve month high of $81.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26. The stock has a 50-day moving average of $41.76 and a 200-day moving average of $57.65. The firm has a market capitalization of $14.13 billion, a P/E ratio of 9.67 and a beta of 1.39.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WDC shares. Barclays decreased their price target 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. 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 report on Thursday, April 10th. UBS Group decreased their price objective on Western Digital from $74.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company reiterated a "neutral" rating on shares of Western Digital in a research report on Friday, April 11th. Finally, Benchmark raised shares of Western Digital from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Western Digital has an average rating of "Moderate Buy" and a consensus price target of $71.32.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now owns 43,776 shares in the company, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company's stock.

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.