BluePointe Capital Management LLC Has $3.90 Million Stock Holdings in Western Digital Co. (NASDAQ:WDC)

BluePointe Capital Management LLC increased its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 65,312 shares of the data storage provider’s stock after purchasing an additional 1,967 shares during the quarter. Western Digital makes up 2.2% of BluePointe Capital Management LLC’s investment portfolio, making the stock its 14th largest position. BluePointe Capital Management LLC’s holdings in Western Digital were worth $3,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Versant Capital Management Inc lifted its position in Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after buying an additional 304 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Western Digital during the fourth quarter worth $29,000. True Wealth Design LLC raised its holdings in shares of Western Digital by 2,184.2% during 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 Western Digital during the fourth quarter valued at $30,000. Finally, OFI Invest Asset Management purchased a new position in Western Digital in the fourth quarter valued at about $36,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Western Digital Trading Up 1.3 %

Shares of Western Digital stock opened at $44.90 on Thursday. The company has a market cap of $15.62 billion, a price-to-earnings ratio of 10.69 and a beta of 1.42. Western Digital Co. has a 1 year low of $39.42 and a 1 year high of $81.55. The company’s fifty day simple moving average is $58.58 and its 200-day simple moving average is $63.39. 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 (NASDAQ:WDC) last posted its quarterly earnings data 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%. As a group, sell-side analysts expect that Western Digital Co. will post 4.89 EPS for the current year.

Insider Buying and Selling at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital 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 sale, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WDC. UBS Group reduced their price target on Western Digital from $74.00 to $50.00 and set a “neutral” rating for the company in a report on Monday. Barclays reduced their target price on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Wedbush restated an “outperform” rating and set a $95.00 price target on shares of Western Digital in a research note on Monday, February 10th. StockNews.com initiated coverage on shares of Western Digital in a research note on Wednesday, February 26th. They issued a “buy” rating for the company. Finally, Citigroup upped their price objective 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. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.21.

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.