Western Digital Co. (NASDAQ:WDC) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC reduced its stake in shares of Western Digital Co. (NASDAQ:WDC) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,678 shares of the data storage provider’s stock after selling 180 shares during the quarter. Sentry Investment Management LLC’s holdings in Western Digital were worth $88,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in WDC. Janiczek Wealth Management LLC acquired a new position in shares of Western Digital during the third quarter worth approximately $28,000. Parkside Financial Bank & Trust raised its stake in Western Digital by 79.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 747 shares of the data storage provider’s stock valued at $34,000 after acquiring an additional 330 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Western Digital during the 3rd quarter valued at $41,000. CVA Family Office LLC acquired a new position in Western Digital during the 4th quarter worth $41,000. Finally, Fiduciary Group LLC acquired a new position in shares of Western Digital during the first quarter valued at $48,000. 92.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Gene M. Zamiska sold 443 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $75.00, for a total value of $33,225.00. Following the completion of the sale, the senior vice president now owns 30,958 shares in the company, valued at $2,321,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Western Digital news, SVP Gene M. Zamiska sold 443 shares of Western Digital stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $75.00, for a total transaction of $33,225.00. Following the transaction, the senior vice president now owns 30,958 shares of the company’s stock, valued at approximately $2,321,850. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimberly Alexy sold 2,648 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.95, for a total transaction of $185,227.60. Following the completion of the sale, the director now directly owns 20,509 shares of the company’s stock, valued at $1,434,604.55. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

Western Digital Trading Down 2.6 %

NASDAQ:WDC opened at $68.32 on Friday. The stock has a fifty day simple moving average of $63.52 and a 200 day simple moving average of $53.99. The company has a current ratio of 1.67, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. Western Digital Co. has a 1-year low of $31.97 and a 1-year high of $76.92.

Western Digital (NASDAQ:WDC) last announced its earnings results on Monday, January 29th. The data storage provider reported ($0.69) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.61. Western Digital had a negative net margin of 19.90% and a negative return on equity of 19.45%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the company posted ($0.69) earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts predict that Western Digital Co. will post -2.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WDC shares. Cantor Fitzgerald upped their price objective on shares of Western Digital from $70.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Morgan Stanley upped their price target on shares of Western Digital from $73.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday. Raymond James raised their price objective on shares of Western Digital from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Mizuho boosted their target price on Western Digital from $66.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, UBS Group increased their price target on Western Digital from $65.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.17.

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.