Western Digital Co. (NASDAQ:WDC) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) by 30.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,276 shares of the data storage provider's stock after selling 133,463 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.09% of Western Digital worth $18,254,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Western Digital by 32.3% in the fourth 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 during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Western Digital by 6.3% in 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 acquiring an additional 50,188 shares during the period. Principal Financial Group Inc. increased its stake in shares of Western Digital by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider's stock worth $23,305,000 after acquiring an additional 15,189 shares during the period. Ieq Capital LLC increased its stake in shares of Western Digital by 83.9% in the fourth quarter. Ieq Capital LLC now owns 31,634 shares of the data storage provider's stock worth $1,886,000 after acquiring an additional 14,432 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of Western Digital by 53.3% in the fourth quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider's stock worth $5,930,000 after acquiring an additional 34,579 shares during the period. Institutional investors and hedge funds own 92.51% of the company's stock.

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Insider Activity

In other news, SVP Gene M. Zamiska sold 1,659 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $41.36, for a total value 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. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WDC shares. Barclays cut their price objective 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. Robert W. Baird lowered their price target on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. Susquehanna lowered their price target on shares of Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Wedbush reissued an "outperform" rating and set a $95.00 price target on shares of Western Digital in a report on Monday, February 10th. Finally, Rosenblatt Securities lowered their price target 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. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Western Digital presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.21.

Western Digital Price Performance

WDC traded down $0.41 during midday trading on Tuesday, hitting $44.34. 5,183,838 shares of the company traded hands, compared to its average volume of 5,968,029. The business has a 50 day simple moving average of $59.37 and a two-hundred day simple moving average of $63.67. The company has a market capitalization of $15.42 billion, a price-to-earnings ratio of 10.56 and a beta of 1.42. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 0.60. 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 issued its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 EPS 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%. On average, equities analysts forecast that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

About Western Digital

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.