Western Digital Co. (NASDAQ:WDC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of Western Digital Co. (NASDAQ:WDC) by 61.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,072 shares of the data storage provider’s stock after selling 177,145 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Western Digital were worth $6,504,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Wedbush Securities Inc. grew its stake in shares of Western Digital by 0.8% during the 4th quarter. Wedbush Securities Inc. now owns 32,879 shares of the data storage provider’s stock valued at $1,961,000 after buying an additional 261 shares during the period. Aviva PLC grew its position in Western Digital by 153.8% during the fourth quarter. Aviva PLC now owns 206,685 shares of the data storage provider’s stock valued at $12,325,000 after acquiring an additional 125,251 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in Western Digital during the fourth quarter worth about $6,089,000. Westpac Banking Corp increased its stake in Western Digital by 75.3% during the fourth quarter. Westpac Banking Corp now owns 1,776 shares of the data storage provider’s stock worth $106,000 after acquiring an additional 763 shares during the last quarter. Finally, Bryce Point Capital LLC purchased a new position in shares of Western Digital in the 4th quarter worth about $510,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Gene M. Zamiska sold 1,659 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the sale, the senior vice president now owns 43,776 shares of the company’s stock, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Western Digital Trading Up 2.5 %

Shares of NASDAQ WDC opened at $36.51 on Monday. 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 stock’s 50 day moving average price is $45.41 and its two-hundred day moving average price is $58.77. Western Digital Co. has a 52-week low of $28.83 and a 52-week high of $81.55. The stock has a market capitalization of $12.70 billion, a P/E ratio of 8.69 and a beta of 1.39.

Western Digital (NASDAQ:WDC) last released 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%. On average, analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WDC shares. The Goldman Sachs Group increased their price objective on shares of Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. UBS Group dropped their target price on Western Digital from $74.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Susquehanna decreased their price target on Western Digital from $72.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Benchmark raised shares of Western Digital from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Thursday, April 10th. Finally, Cantor Fitzgerald reduced their target price on shares of Western Digital from $95.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Western Digital has a consensus rating of “Moderate Buy” and a consensus price target of $73.68.

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.