Atria Wealth Solutions Inc. Sells 8,350 Shares of Western Digital Co. (NASDAQ:WDC)

Atria Wealth Solutions Inc. lowered its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 34.2% during the fourth quarter, HoldingsChannel reports. The firm owned 16,065 shares of the data storage provider’s stock after selling 8,350 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Western Digital were worth $958,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its stake in shares of Western Digital by 5.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,929 shares of the data storage provider’s stock valued at $200,000 after purchasing an additional 149 shares during the period. Mather Group LLC. raised its stake in Western Digital by 7.0% in the fourth quarter. Mather Group LLC. now owns 2,416 shares of the data storage provider’s stock valued at $144,000 after buying an additional 159 shares during the period. Vontobel Holding Ltd. raised its stake in Western Digital by 1.4% in the 4th quarter. Vontobel Holding Ltd. now owns 11,804 shares of the data storage provider’s stock valued at $704,000 after acquiring an additional 164 shares during the period. Quarry LP lifted its stake in shares of Western Digital by 22.6% during the 3rd quarter. Quarry LP now owns 932 shares of the data storage provider’s stock worth $64,000 after buying an additional 172 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Western Digital by 4.3% during the fourth quarter. Inspire Investing LLC now owns 4,324 shares of the data storage provider’s stock worth $258,000 after acquiring an additional 177 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Susquehanna dropped their target price on Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. The Goldman Sachs Group upped their target price on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Robert W. Baird reduced their price target on shares of Western Digital from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Morgan Stanley cut their price objective on Western Digital from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of Western Digital in a report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.42.

Western Digital Trading Down 4.9 %

NASDAQ:WDC opened at $49.02 on Tuesday. The stock has a market capitalization of $17.05 billion, a price-to-earnings ratio of 11.67 and a beta of 1.44. The firm has a fifty day simple moving average of $64.45 and a two-hundred day simple moving average of $65.59. 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 12 month low of $39.58 and a 12 month high of $61.16.

Western Digital (NASDAQ:WDC) last issued 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%. Analysts expect that Western Digital Co. will post 4.89 EPS for the current fiscal year.

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.