Western Digital Co. (NASDAQ:WDC) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its position in Western Digital Co. (NASDAQ:WDC) by 48.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,770 shares of the data storage provider’s stock after selling 16,065 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Western Digital were worth $1,000,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. M & L Capital Management Ltd acquired a new stake in shares of Western Digital in the 4th quarter valued at $221,000. Parnassus Investments LLC raised its stake in Western Digital by 24.5% in the fourth quarter. Parnassus Investments LLC now owns 2,980,047 shares of the data storage provider’s stock valued at $177,700,000 after buying an additional 586,924 shares in the last quarter. Swiss National Bank lifted its holdings in Western Digital by 0.8% during the 4th quarter. Swiss National Bank now owns 976,507 shares of the data storage provider’s stock worth $58,229,000 after buying an additional 7,500 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Western Digital by 8.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,503 shares of the data storage provider’s stock worth $328,000 after acquiring an additional 439 shares in the last quarter. Finally, Securian Asset Management Inc. increased its holdings in shares of Western Digital by 2.9% in the 4th quarter. Securian Asset Management Inc. now owns 18,579 shares of the data storage provider’s stock valued at $1,108,000 after acquiring an additional 531 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Western Digital Stock Performance

NASDAQ WDC opened at $43.66 on Friday. The stock has a market capitalization of $15.19 billion, a price-to-earnings ratio of 10.40 and a beta of 1.42. The business’s 50 day moving average is $57.80 and its two-hundred day moving average is $63.11. Western Digital Co. has a 12-month low of $39.42 and a 12-month high of $81.55. 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 (NASDAQ:WDC) last announced its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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 expect that Western Digital Co. will post 4.89 EPS for the current year.

Wall Street Analyst Weigh In

WDC has been the subject of a number of research analyst reports. Bank of America lowered their price target on Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Barclays dropped their target price on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. StockNews.com began coverage on shares of Western Digital in a research report on Wednesday, February 26th. They issued a “buy” rating for the company. Wedbush reiterated an “outperform” rating and set a $95.00 target price on shares of Western Digital in a research report on Monday, February 10th. Finally, Benchmark cut Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.21.

Insider Activity at Western Digital

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 completion of the transaction, the senior vice president now directly owns 43,776 shares of the company’s stock, valued at $1,810,575.36. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.