Western Digital Co. (NASDAQ:WDC) Shares Sold by Natixis

Natixis reduced its holdings in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 24.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,847 shares of the data storage provider's stock after selling 9,942 shares during the period. Natixis' holdings in Western Digital were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Western Digital during the third quarter valued at $183,000. Tidal Investments LLC raised its stake in shares of Western Digital by 123.5% in the third quarter. Tidal Investments LLC now owns 41,028 shares of the data storage provider's stock worth $2,802,000 after purchasing an additional 22,670 shares during the last quarter. Synovus Financial Corp boosted its position in Western Digital by 20.0% in the third quarter. Synovus Financial Corp now owns 9,562 shares of the data storage provider's stock valued at $653,000 after buying an additional 1,591 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Western Digital by 9.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,745 shares of the data storage provider's stock worth $252,000 after buying an additional 319 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock valued at $25,000 after acquiring an additional 304 shares during the last quarter. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Western Digital Price Performance

WDC stock opened at $36.68 on Wednesday. Western Digital Co. has a 1 year low of $28.83 and a 1 year 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 firm has a market capitalization of $12.76 billion, a PE ratio of 8.73 and a beta of 1.39. The business has a 50 day simple moving average of $44.17 and a 200-day simple moving average of $58.40.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its 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%. Equities research analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America cut their price target on Western Digital from $89.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Barclays decreased their price target on Western Digital from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Susquehanna decreased their target price on shares of Western Digital from $72.00 to $40.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. UBS Group cut their price objective on shares of Western Digital from $74.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.68.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 1,659 shares of the firm's stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by 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.

Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Co. (NASDAQ:WDC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.