BI Asset Management Fondsmaeglerselskab A S Sells 37,517 Shares of Western Digital Co. (NASDAQ:WDC)

BI Asset Management Fondsmaeglerselskab A S decreased its position in Western Digital Co. (NASDAQ:WDC - Free Report) by 55.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,869 shares of the data storage provider's stock after selling 37,517 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Western Digital were worth $1,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Western Digital in the 3rd quarter valued at about $183,000. Tidal Investments LLC grew its holdings in shares of Western Digital by 123.5% in the 3rd quarter. Tidal Investments LLC now owns 41,028 shares of the data storage provider's stock valued at $2,802,000 after acquiring an additional 22,670 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Western Digital by 20.0% in the 3rd quarter. Synovus Financial Corp now owns 9,562 shares of the data storage provider's stock valued at $653,000 after acquiring an additional 1,591 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Western Digital by 9.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,745 shares of the data storage provider's stock valued at $252,000 after acquiring an additional 319 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Western Digital by 278.9% in the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider's stock valued at $25,000 after acquiring an additional 304 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

Western Digital Trading Up 1.5 %

Shares of Western Digital stock traded up $0.61 during trading on Friday, reaching $40.78. The company's stock had a trading volume of 4,158,545 shares, compared to its average volume of 6,297,505. 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 52-week low of $28.83 and a 52-week high of $81.55. The firm's 50-day moving average is $42.37 and its two-hundred day moving average is $57.82. The company has a market cap of $14.18 billion, a price-to-earnings ratio of 9.71 and a beta of 1.39.

Western Digital (NASDAQ:WDC - Get Free Report) last posted its quarterly earnings results 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 net margin of 9.95% and a return on equity of 15.68%. On average, sell-side analysts anticipate that Western Digital Co. will post 4.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on WDC. Wedbush reiterated an "underperform" rating on shares of Western Digital in a report on Friday, April 11th. Mizuho reduced their price target on Western Digital from $82.00 to $68.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. 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, March 17th. The Goldman Sachs Group lifted their price target on Western Digital from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Wells Fargo & Company reiterated a "neutral" rating on shares of Western Digital in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $73.68.

Insider Activity

In other news, SVP Gene M. Zamiska sold 1,659 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the transaction, the senior vice president now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company's stock.

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.