Wealthfront Advisers LLC Lowers Holdings in Western Digital Co. (NASDAQ:WDC)

Wealthfront Advisers LLC decreased its position in Western Digital Co. (NASDAQ:WDC - Free Report) by 67.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,973 shares of the data storage provider's stock after selling 10,086 shares during the quarter. Wealthfront Advisers LLC's holdings in Western Digital were worth $297,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WDC. Huntington National Bank lifted its holdings in Western Digital by 67.4% during the third quarter. Huntington National Bank now owns 1,296 shares of the data storage provider's stock valued at $89,000 after purchasing an additional 522 shares during the last quarter. Metis Global Partners LLC lifted its holdings in Western Digital by 8.2% during the third quarter. Metis Global Partners LLC now owns 15,387 shares of the data storage provider's stock valued at $1,051,000 after purchasing an additional 1,162 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings in Western Digital by 9.5% during the third quarter. OneDigital Investment Advisors LLC now owns 3,665 shares of the data storage provider's stock valued at $250,000 after purchasing an additional 317 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Western Digital by 8.2% during the third quarter. CIBC Asset Management Inc now owns 47,533 shares of the data storage provider's stock valued at $3,246,000 after purchasing an additional 3,615 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in Western Digital by 9.3% during the third quarter. Natixis Advisors LLC now owns 76,131 shares of the data storage provider's stock valued at $5,199,000 after purchasing an additional 6,455 shares during the last quarter. Institutional investors own 92.51% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WDC shares. Wedbush reissued an "outperform" rating and issued a $95.00 price target on shares of Western Digital in a report on Monday, February 10th. Bank of America cut their target price on shares of Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Benchmark cut shares of Western Digital from a "buy" rating to a "hold" rating and set a $70.00 target price on the stock. in a report on Thursday, December 19th. Rosenblatt Securities cut their target price on shares of Western Digital from $115.00 to $95.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Mizuho cut their target price on shares of Western Digital from $90.00 to $82.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.21.

Western Digital Stock Down 1.9 %

Shares of WDC traded down $0.85 during trading hours on Friday, hitting $43.66. The company had a trading volume of 7,693,220 shares, compared to its average volume of 5,982,069. The firm has a fifty day moving average price of $58.19 and a 200-day moving average price of $63.26. 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 $15.19 billion, a price-to-earnings ratio of 10.40 and a beta of 1.42. Western Digital Co. has a 52-week low of $39.42 and a 52-week high of $81.55.

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

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 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 completion of the sale, the senior vice president now directly 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 through this hyperlink. 0.30% of the stock is owned by corporate 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.