Wealthfront Advisers LLC Sells 10,086 Shares of Western Digital Co. (NASDAQ:WDC)

Wealthfront Advisers LLC lowered its position in Western Digital Co. (NASDAQ:WDC) by 67.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,973 shares of the data storage provider’s stock after selling 10,086 shares during the quarter. Wealthfront Advisers LLC’s holdings in Western Digital were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in shares of Western Digital by 3.2% during the 3rd quarter. State Street Corp now owns 13,572,686 shares of the data storage provider’s stock worth $926,879,000 after buying an additional 423,651 shares during the period. Geode Capital Management LLC lifted its position in shares of Western Digital by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 7,921,608 shares of the data storage provider’s stock worth $539,355,000 after buying an additional 76,781 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Western Digital by 24.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,711,428 shares of the data storage provider’s stock worth $253,453,000 after buying an additional 732,344 shares during the period. Maple Rock Capital Partners Inc. lifted its position in shares of Western Digital by 13.2% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,287,400 shares of the data storage provider’s stock worth $224,497,000 after buying an additional 383,390 shares during the period. Finally, Holocene Advisors LP lifted its position in shares of Western Digital by 25.7% during the 3rd quarter. Holocene Advisors LP now owns 3,192,762 shares of the data storage provider’s stock worth $218,034,000 after buying an additional 651,847 shares during the period. Institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Western Digital Stock Up 0.5 %

Shares of Western Digital stock opened at $44.75 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. Western Digital Co. has a 12 month low of $39.42 and a 12 month high of $81.55. The business has a fifty day simple moving average of $59.37 and a 200 day simple moving average of $63.67. The stock has a market cap of $15.57 billion, a PE ratio of 10.65 and a beta of 1.42.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings data 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 return on equity of 15.68% and a net margin of 9.95%. Research analysts predict that Western Digital Co. will post 4.89 EPS for the current year.

Analyst Ratings Changes

WDC has been the subject of several analyst reports. Barclays cut their target price on Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company cut their price objective on Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Susquehanna cut their price objective on Western Digital from $83.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. StockNews.com assumed coverage on Western Digital in a research report on Wednesday, February 26th. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald cut their price objective on Western Digital from $95.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Western Digital presently has a consensus rating of “Moderate Buy” and an average price target of $80.21.

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.