Xponance Inc. Purchases 6,862 Shares of Western Digital Co. (NASDAQ:WDC)

Xponance Inc. increased its position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,952 shares of the data storage provider's stock after buying an additional 6,862 shares during the quarter. Xponance Inc.'s holdings in Western Digital were worth $3,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDC. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Western Digital by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider's stock worth $2,691,000 after acquiring an additional 11,013 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Western Digital by 6.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider's stock worth $50,191,000 after purchasing an additional 50,188 shares during the last quarter. Principal Financial Group Inc. increased its stake in Western Digital by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider's stock valued at $23,305,000 after buying an additional 15,189 shares during the last quarter. Ieq Capital LLC increased its stake in Western Digital by 83.9% in the 4th quarter. Ieq Capital LLC now owns 31,634 shares of the data storage provider's stock valued at $1,886,000 after buying an additional 14,432 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Western Digital by 53.3% during the 4th quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider's stock worth $5,930,000 after buying an additional 34,579 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

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Analyst Ratings Changes

A number of analysts recently issued reports on WDC shares. UBS Group lowered their target price 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. Susquehanna lowered their price target on Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Benchmark cut Western Digital from a "buy" rating to a "hold" rating and set a $70.00 price objective on the stock. in a research note on Thursday, December 19th. Morgan Stanley decreased their target price on shares of Western Digital from $100.00 to $93.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald dropped their price target on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.21.

Insider Buying and Selling

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

Western Digital Stock Performance

Shares of Western Digital stock traded down $0.92 on Tuesday, hitting $43.39. The stock had a trading volume of 8,749,527 shares, compared to its average volume of 5,959,106. The stock has a market cap of $15.09 billion, a price-to-earnings ratio of 10.33 and a beta of 1.42. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. Western Digital Co. has a twelve month low of $39.42 and a twelve month high of $81.55. The business's 50 day moving average is $57.45 and its two-hundred day moving average is $62.98.

Western Digital (NASDAQ:WDC - Get Free Report) last released 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 net margin of 9.95% and a return on equity of 15.68%. Analysts forecast that Western Digital Co. will post 4.89 EPS for the current 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.