Handelsbanken Fonder AB Trims Stock Position in Western Digital Co. (NASDAQ:WDC)

Handelsbanken Fonder AB cut its holdings in Western Digital Co. (NASDAQ:WDC) by 31.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,865 shares of the data storage provider’s stock after selling 30,297 shares during the quarter. Handelsbanken Fonder AB’s holdings in Western Digital were worth $4,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd lifted its stake in shares of Western Digital by 46.0% during the fourth quarter. Point72 Hong Kong Ltd now owns 331,445 shares of the data storage provider’s stock valued at $17,358,000 after buying an additional 104,464 shares during the period. Troluce Capital Advisors LLC purchased a new stake in shares of Western Digital in the fourth quarter valued at $20,450,000. Prelude Capital Management LLC increased its stake in Western Digital by 14.7% in the fourth quarter. Prelude Capital Management LLC now owns 100,844 shares of the data storage provider’s stock valued at $5,281,000 after purchasing an additional 12,930 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in Western Digital during the fourth quarter worth about $5,992,000. Finally, V Square Quantitative Management LLC boosted its stake in Western Digital by 18.9% in the 4th quarter. V Square Quantitative Management LLC now owns 8,878 shares of the data storage provider’s stock worth $465,000 after buying an additional 1,413 shares during the last quarter. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WDC shares. Benchmark reiterated a “buy” rating and set a $92.00 price objective on shares of Western Digital in a report on Thursday, September 26th. Citigroup decreased their price target on shares of Western Digital from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Rosenblatt Securities restated a “buy” rating and set a $115.00 price objective on shares of Western Digital in a report on Thursday, August 1st. Summit Insights cut Western Digital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Wedbush upped their price target on Western Digital from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and a consensus price target of $84.24.

Insider Buying and Selling at Western Digital

In other news, SVP Gene M. Zamiska sold 417 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the sale, the senior vice president now directly owns 28,870 shares in the company, valued at approximately $1,873,374.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Western Digital news, EVP Robert Soderbery sold 12,154 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $57.09, for a total value of $693,871.86. Following the transaction, the executive vice president now owns 128,413 shares of the company’s stock, valued at $7,331,098.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Gene M. Zamiska sold 417 shares of Western Digital stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.89, for a total value of $27,059.13. Following the completion of the transaction, the senior vice president now owns 28,870 shares of the company’s stock, valued at approximately $1,873,374.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,955 shares of company stock worth $6,327,560 over the last quarter. 0.28% of the stock is owned by corporate insiders.

Western Digital Stock Down 0.4 %

Shares of NASDAQ:WDC opened at $66.17 on Wednesday. Western Digital Co. has a 12-month low of $35.62 and a 12-month high of $81.55. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The firm has a market cap of $22.73 billion, a PE ratio of -13.31 and a beta of 1.39. The company has a fifty day simple moving average of $63.79 and a 200 day simple moving average of $69.97.

Western Digital (NASDAQ:WDC) last released its earnings results on Wednesday, July 31st. The data storage provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.17. Western Digital had a negative net margin of 3.75% and a negative return on equity of 2.63%. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.77 billion. On average, equities research analysts anticipate that Western Digital Co. will post 7.75 EPS for the current fiscal year.

About Western Digital

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.