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

Skandinaviska Enskilda Banken AB publ lowered its holdings in Western Digital Co. (NASDAQ:WDC) by 30.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 306,276 shares of the data storage provider’s stock after selling 133,463 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Western Digital were worth $18,254,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc increased its position 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 in the last quarter. Sierra Ocean LLC purchased a new position in shares of Western Digital in the fourth quarter worth approximately $29,000. True Wealth Design LLC increased its position in shares of Western Digital by 2,184.2% in the third quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after acquiring an additional 415 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Western Digital during the fourth quarter worth approximately $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Western Digital during the fourth quarter worth approximately $36,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WDC has been the subject of several research reports. Susquehanna decreased their price target on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Wedbush restated an “outperform” rating and set a $95.00 price target on shares of Western Digital in a report on Monday, February 10th. Citigroup raised their price target on shares of Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. UBS Group raised their price target on shares of Western Digital from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, StockNews.com initiated coverage on shares of Western Digital in a report on Wednesday, February 26th. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.47.

Western Digital Trading Down 2.2 %

NASDAQ:WDC opened at $42.03 on Friday. Western Digital Co. has a 12 month low of $39.42 and a 12 month high of $61.16. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 10.01 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. The company’s 50 day moving average is $60.58 and its 200-day moving average is $64.06.

Western Digital (NASDAQ:WDC) last announced its earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. Equities analysts anticipate that Western Digital Co. will post 4.89 EPS for the current year.

Insider Buying and Selling

In related news, SVP Gene M. Zamiska sold 1,659 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by insiders.

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.